Embraer selects new CEO
Embraer of São Paulo, Brazil, has nominated Francisco Gomes Neto, current president of Marcopolo, to become its new president and CEO, succeeding Paulo Cesar de Souza e Silva, who in March announced plans to step down with his elected two-year term complete. Neto will be presented to Embraer’s board of directors for election during the company’s general shareholders’ meeting scheduled for April 22, 2019.
Neto built his career in the automotive industry, holding CEO positions over the last 20 years, both in Brazil and in the United States. He holds an Electrical Engineering degree, a specialization in Business Administration and an MBA in Controllership and Finance.
Neto has served as CEO of Marcopolo for the past three years. Previously, he was the CEO of Americas for Mann+Hummel, and President of Knorr Bremse (global leader in control systems for commercial vehicles), among other leadership positions.
“With vast international experience and focus on industrial sector management, I am confident that Francisco Gomes Neto has the right profile and competencies to lead Embraer through this period of transformation of the company and of the global aerospace sector,” said Alexandre Silva, chairman of Embraer’s board of directors, about the nomination.
After the company’s AGM, Paulo Cesar de Souza e Silva will take on a role of senior advisor to the board of directors, during the onboarding of the new CEO and throughout the segregation of assets and resources of the commercial aviation business, until the completion of the partnership with Boeing.
Earlier this year, Embraer shareholders approved the pending transaction with Boeing. The two companies are working toward a significant joint venture that will be made up of the commercial aircraft and services operations of Embraer. Boeing will hold an 80 per cent ownership stake in the new company and Embraer will hold the remaining 20 per cent.