Advertising

Embraer chief executive to step down in April

Embraer chief executive and president Paulo Cesar de Souza e Silva will step down from his role at the manufacturer on 22 April, and will be replaced with an executive recruited externally.

The Brazilian company says it will announce the appointment of its next president and chief executive on or before its general ordinary assembly on 22 April.

De Souza e Silva has led Embraer since July 2016.

Embraer announced the succession plan as it moves towards closing a commercial aviation joint venture with Boeing. Under that deal Boeing would take 80% ownership of Embraer's commercial aircraft division. The tie-up was approved by Embraer shareholders in February, and the two companies aim to close the deal by year-end. Boeing and Embraer have also agreed to form a joint venture to sell and market the KC-390 military transport, with Embraer holding 51% and Boeing 49% of that programme.

"Paulo Cesar idealised the partnership with Boeing and led the negotiation process of the transaction that will bring Embraer and Brazil to a much more competitive and prominent level in the global aviation industry," says Embraer chairman Alexandre Silva.

Embraer has invited De Souza e Silva to remain as a senior advisor to the board, to help facilitate the integration of its new chief executive and to advise on the joint-venture process.

De Souza e Silva has worked at Embraer for 22 years. Prior to being appointed chief executive, he led the manufacturer's commercial aviation division for six years, overseeing the launch of the E-Jet E2 programme in 2013.

As chief executive of Embraer, he oversaw a structural cost cuts programme and creation of EmbraerX, a unit which last year unveiled its first electrical vertical take-off and landing concept.

Advertising
Related Content
Advertising