MONTREAL, Nov. 12,
2024 /PRNewswire/ - (NYSE: CAE) (TSX: CAE) CAE announced today that after 20 years at
CAE, including 15 as President and Chief Executive Officer, and
after spearheading the making of CAE as a global leader in training
for civil aviation and defence and security forces, Marc Parent will be leaving the company at next
year's Annual General Meeting in August
2025, as part of an ongoing succession plan. Until this
time, Mr. Parent will continue to lead CAE in his role as CEO and
as a member of the Board of Directors, advance CAE's strategic
objectives and ensure an effective transition.
"Under Marc's leadership, CAE has become a global leader in
training for civil aviation and defence and security forces,
through which we have furthered our mission to make the world a
safer place" said Alan N. MacGibbon,
Chair of the Board of Directors." During his tenure, CAE's annual
revenue has nearly doubled to $4.3
billion from $2.2 billion.
This was driven in large part by the transformation he led from
being primarily an industrial products company to becoming the
world leader in aviation training solutions, with over two-thirds
of annual revenue coming from recurring services. These
accomplishments cement his legacy as a high calibre leader in the
aerospace industry and create a solid foundation for the
future."
"Marc's lasting impact on CAE and global aerospace is
unanimously recognized by the Board," said Mr. MacGibbon. "As we
continue our succession process for the next CEO of CAE, we are
fortunate to benefit from the considerable leadership depth he has
built across the organization, placing us in an excellent position
for sustainable growth."
Added Mr. Parent, "It has been the privilege of a lifetime to
lead this company over the last 15 years. Having been engaged in
succession planning discussions for some time, the Board and I are
fully aligned on the process and transition to CAE's next CEO. Over
the decades, I have been able to work together with an
extraordinary team, reshaping the aerospace industry by creating
something truly unique, and prepared thousands of people in
critical roles for the moments that matter. I am proud of the
numerous awards and overall recognition that CAE has received, of
the solid relationships we developed, and I am grateful for
everyone who contributed to making our company what it is
today."
"CAE's innovative technology and outstanding people now set the
standard for training and safety worldwide. When I conclude this
unique journey next year, it will be with the knowledge that given
our unparalleled training and software solutions, the strong
secular growth trends in Civil and Defence, and our robust order
backlog, the future is bright for CAE."
Consistent with its ongoing and rigorous succession planning
process, the Board of Directors has retained a leading executive
search firm to conduct a comprehensive global search, which will
include evaluating internal and external candidates, to identify a
new CEO to lead the Company into the future. The Human Resources
Committee of the Board will oversee the search process with support
and assistance from Mr. Parent.
For more information about CAE's CEO, Marc Parent, please visit:
https://www.cae.com/about-cae/management-team/marc-parent
About CAE
At CAE, we equip people in critical roles
with the expertise and solutions to create a safer world. As a
technology company, we digitalize the physical world, deploying
software-based simulation training and critical operations support
solutions. Above all else, we empower pilots, cabin crew,
maintenance technicians, airlines, business aviation operators, and
defence and security forces to perform at their best every day and
when the stakes are the highest. Around the globe, we're everywhere
customers need us to be with approximately 13,000 employees in more
than 240 sites and training locations in over 40 countries. CAE
represents more than 75 years of industry firsts—the
highest-fidelity flight and mission simulators as well as training
programs powered by digital technologies. We embed sustainability
in everything we do. Today and tomorrow, we'll make sure our
customers are ready for the moments that matter.
Read our FY24 Global Annual Activity and Sustainability
Report.
CAE Contacts:
General Media:
Samantha
Golinski, Vice President, Public Affairs & Global
Communications
+1-438-805-5856, samantha.golinski@cae.com
Investor Relations:
Andrew
Arnovitz, Senior Vice President, Investor Relations and
Enterprise Risk Management, +1-514-734-5760,
andrew.arnovitz@cae.com
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SOURCE CAE Inc.