Latest news with #MatthewBromberg
Reuters
02-06-2025
- Business
- Reuters
Canada's aviation firm CAE taps Northrop Grumman's Matthew Bromberg as CEO
June 2 (Reuters) - Canadian aviation and defense technology company CAE ( opens new tab, said on Monday it tapped Northrop Grumman's (NOC.N), opens new tab Matthew Bromberg as its new chief executive officer. Bromberg, set to join on August 13, will be succeeding Marc Parent, who has been at the helm since 2009 and had announced his departure in November last year. Bromberg has been working as the head of global operations for Northrop Grumman since 2022 and has also worked for RTX Corp (RTX.N), opens new tab, leading its military engine business. The appointment follows activist investor Browning West in December pushing to have a say in hiring CAE's new top boss, after building a 4.3% stake in the company. CAE also announced that former Air Canada CEO Calin Rovinescu will become executive chairman of the board, while the past CEO of Hydro-Quebec Sophie Brochu will serve as lead independent director.
Bloomberg
02-06-2025
- 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%.
Globe and Mail
02-06-2025
- Business
- Globe and Mail
CAE names Northrop Grumman executive Matthew Bromberg as next CEO
Canadian pilot training company CAE Inc. CAE-T has named Northrop Grumman Corp. executive Matthew Bromberg as its next chief executive officer, capping a four-month search process ahead the coming retirement of current CEO Marc Parent. Mr. Bromberg, a military veteran who served as a submarine officer in the U.S. Navy, currently leads Northrop Grumman's global operations as vice-president. He'll take over Aug.13 after Mr. Parent's departure, Montreal-based CAE said in a statement Monday. Former Air Canada Chief Executive Calin Rovinescu, named CAE chairman in February, will become executive chairman and energy industry executive Sophie Brochu will serve as lead independent director, the company said. The announcement follows a mini board shakeup in February that saw four new directors added, including Peter Lee of U.S. investment firm Browning West. Browning West is best known in Canada as the firm that led a successful campaign to re-instate the ousted co-founder and CEO of Gildan Activewear Inc., Glenn Chamandy. Browning West disclosed in December that it had amassed a 4.3-per-cent economic interest in CAE and asked for a formal role in the succession planning. An agreement was subsequently struck giving Mr. Lee a board seat and making him co-chair of the CEO selection committee. Mr. Bromberg also worked for Raytheon Technologies for more than 20 years, leading Pratt & Whitney's military engines unit. Earlier in his career, he worked as an investment banker with Goldman Sachs and led several key acquisitions and divestitures at United Technologies. The incoming CEO 'ticks the key experience boxes' necessary to lead CAE, National Bank analyst Cameron Doerksen said in a research note Monday. 'We believe CAE has a meaningful opportunity to streamline its operations to improve capital efficiency and free cash flow, and we expect this will be a key focus for the incoming CEO,' the analyst said.
Yahoo
02-06-2025
- Business
- Yahoo
Canada's aviation firm CAE taps Northrop Grumman's Matthew Bromberg as CEO
(Reuters) -Canadian aviation and defense technology company CAE, said on Monday it tapped Northrop Grumman's Matthew Bromberg as its new chief executive officer. Bromberg, set to join on August 13, will be succeeding Marc Parent, who has been at the helm since 2009 and had announced his departure in November last year. Bromberg has been working as the head of global operations for Northrop Grumman since 2022 and has also worked for RTX Corp, leading its military engine business. The appointment follows activist investor Browning West in December pushing to have a say in hiring CAE's new top boss, after building a 4.3% stake in the company. CAE also announced that former Air Canada CEO Calin Rovinescu will become executive chairman of the board, while the past CEO of Hydro-Quebec Sophie Brochu will serve as lead independent director. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
02-06-2025
- 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.
