Embraer names President and CEO nominee
Embraer is to nominate Francisco Gomes Neto, current President of Marcopolo, to the Board of Directors for the position of President and CEO, the Brazilian plane maker announced on April 9, 2019. Current CEO, Paulo Cesar de Souza e Silva, is leaving on April 22, when his two year elected term ends.
“With an Electrical Engineering degree, a specialization in Business Administration and an MBA in Controllership and Finance, Francisco Gomes Neto built his career in the automotive industry, holding CEO positions over the last 20 years, both in Brazil and in the United States,” the nominee is introduced in a statement by Embraer. “Over the past three years, he has served as CEO of Marcopolo, in which he successfully led the company's transformation, generating strong sales growth and market value for the business. Previously, he was the CEO Americas for Mann+Hummel and President of Knorr Bremse (global leader in control systems for commercial vehicles), among other leadership positions”.
Gomes candidacy is to be presented for election during the company’s board of directors meeting, after the General Shareholders' Meeting scheduled for April 22.
Meanwhile, current CEO Souza e Silva will take on a role of senior advisor to the Board of Directors, during the onboarding of the new President and CEO and throughout the segregation of assets and resources of the commercial aviation business, until the completion of the partnership with Boeing.
Embraer, Boeing joint venture was first announced in July 2018. The two companies agreed on the terms of it in December 2018. To establish the joint venture, Embraer would be selling a 80% stake at in its commercial aviation activities, including aftermarket support services, to Boeing for $4.2 billion.
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