Latest news with #CalinRovinescu
Bloomberg
4 days ago
- Business
- Bloomberg
Activist Browning West Leads CAE to Reset With New CEO Bromberg
Investment firm Browning West LP says flight simulator company CAE Inc. should be able to double its profit over the next three to four years under the direction of a new chief executive officer. CAE hired Northrop Grumman executive Matthew Bromberg to run the company and named former Air Canada CEO Calin Rovinescu as executive chair in a revamp of its leadership team. The shares jumped more than 4%.
CTV News
5 days ago
- Business
- CTV News
CAE names Northrop Grumman executive Matthew Bromberg as new CEO
The flight simulator assembly plant is seen at the CAE facility in Montreal, Tuesday, Jan. 14, 2025. THE CANADIAN PRESS/Ryan Remiorz MONTREAL — Flight simulator company CAE Inc. has named Matthew Bromberg as its new president and chief executive. Bromberg, who will join the company on June 16 and take over the top job on Aug. 13, has headed global operations for U.S. defence technology company Northrop Grumman Corp. since 2022. He will also stand for election to CAE's board of directors at the company's upcoming annual meeting. Bromberg replaces Marc Parent, who announced last year that he was leaving the company in August this year. CAE also says Calin Rovinescu will become executive chairman of the board, while Sophie Brochu will serve as lead independent director. Rovinescu, a former chief executive of Air Canada, was appointed to the CAE board in February this year as an independent director and chair. Brochu, a former chief executive of Hydro-Quebec, has been an independent director at CAE since 2023. This report by The Canadian Press was first published June 2, 2025.
Yahoo
13-02-2025
- Business
- Yahoo
CDPQ welcomes the renewal of CAE's Board
MONTRÉAL, Feb. 13, 2025 /CNW/ - CDPQ welcomes the announcement, by CAE's Board of Directors, of the appointment of four new members, including the appointment of Calin Rovinescu, a seasoned leader in the aerospace industry, as Chairman. These changes reflect CAE's commitment to renewing its corporate governance, in particular by taking into account the opinions of certain shareholders, including CDPQ, its largest institutional investor with a 9.7% stake in the company. "Our position as a major shareholder prompted us to play a proactive and constructive role in this renewal process by leveraging our network and influence. This mobilization and the end result perfectly illustrate our dual mandate: while we aim to achieve optimal returns, we do not hesitate to get involved when necessary to support champions of the Québec economy, like CAE," said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ. "CAE and its Board of Directors will be able to count on a renowned and seasoned Chairman whose career has been characterized by major achievements in business as well as in the aerospace industry, in Québec, Canada and internationally." CDPQ is also pleased with the three other appointments that have been announced, including those of Louis Têtu, whom it has designated as a director, Katherine A. Lehman and Peter Lee who join the group of experienced directors already in place to move the company forward. More specifically, CDPQ highlights the mobilization of influential individuals in the Québec business community to play active roles in the governance of this global leader in the aerospace industry. These changes will become effective on February 14, 2025. ABOUT CDPQAt CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ's net assets totalled CAD 452 billion. For more information, visit consult our LinkedIn or Instagram pages, or follow us on X. CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries. For more informationMEDIA RELATIONS TEAM+ 1 514 847-5493medias@ SOURCE Caisse de dépôt et placement du Québec View original content: Sign in to access your portfolio
