Bombardier Makes Changes at the Top

Handout from Bombardier/CAE

BombardierMONTREAL – BUSINESS – Alain Bellemare, President and Chief Executive Officer, Bombardier Inc. (TSX:BBD.A)(TSX:BBD.B)(OTCQX:BDRBF), has announced that he is bringing in new talent to reinforce the company’s management team. These changes will bring a fresh perspective at Bombardier, driving execution, alignment and intensity across the entire company.

Pierre Alary will retire as Senior Vice President and Chief Financial Officer, Bombardier Inc. In order to ensure a smooth transition, he will remain in his position until an international search for his successor has been completed.

Mr. Bellemare also announced that Fred Cromer is appointed President, Bombardier Commercial Aircraft, effective immediately. Mr. Cromer will be joining his team in Mirabel in the coming weeks. He is replacing Mike Arcamone, who is leaving the company to pursue other interests. During Mr. Arcamone’s mandate, the CSeries development program achieved key milestones towards its entry into service and Bombardier wishes to thank him for his contribution to the company.

“Fred is an amazing addition to our team”, said Alain Bellemare. “Throughout his impressive career, he has led businesses with enterprise values of $500 million to over $30 billion and developed an unparalleled network of contacts in the airline industry. Most recently, as President of International Lease Finance Corporation (ILFC), Fred expanded international operations to support key growth regions. His strong leadership skills, international network and deep understanding of the aviation industry are a perfect match for Bombardier Commercial Aircraft, as we are preparing to realize the true market potential of our new CSeries aircraft, while refocusing on our Q400 and CRJ programs,” emphasized Mr. Bellemare.

With more than 23 years of experience in aviation, Fred Cromer spent six years at ILFC as President and previously as Senior Vice President Finance and Chief Financial Officer. Earlier in his career, he held various executive positions in the airline industry, such as Chief Financial Officer, ExpressJet, Vice President and Chief Financial Officer, Continental Express, Vice President Fleet Planning, Continental Airlines and Director of Fleet Planning, Northwest Airlines. He holds a Bachelor in Economics from the University of Michigan and an MBA in Finance from DePaul University in Chicago.

In addition, Bombardier is welcoming Plane View Partners and its Chairman, Henri Courpron, as strategic advisors. Mr. Courpron is a former Chief Executive Officer of ILFC who also served for 20 years at Airbus in a number of management positions, including President and Chief Executive Officer of Airbus, North America. His team’s mandate consists of conducting an extensive review of Bombardier Commercial Aircraft’s operations, with the objective of improving its overall performance.

Plane View Partners has a diverse team of senior executives in aviation, with an extensive knowledge of the fields most directly relevant to Bombardier Commercial Aircraft’s challenges, such as airplane deal making, marketing and communications, contract management, airline operations, training and recruiting.

“Having Fred and Henri on board gives us a strategic edge like we’ve never had before. We are really paving the way to strengthen our existing commercial programs and to make the CSeries aircraft a phenomenal success”, concluded Mr. Bellemare.

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