MONTREAL, Feb. 13, 2025 /PRNewswire/ – (NYSE: CAE) (TSX: CAE) – CAE Inc. (“CAE” or “the Company”) nowadays introduced the appointment of 4 fresh administrators to its Board of Administrators, together with Calin Rovinescu as Chair of the Board. The alternative 3 appointments are Peter Lee, Katherine A. Lehman and Louis Têtu.
Those adjustments, which is able to remove impact on February 14, adopted consultations with the Corporate’s stakeholders that targeted at the Board’s ongoing evaluation of its composition, and a transition in opposition to renewed Board management.
Stated Mr. Rovinescu, “As a longstanding airline customer and partner of CAE, I am excited to take on the role as Chair to help guide this exceptional global champion through its next chapter of growth and value creation. The other newly appointed Board members and I are energized by CAE’s innovative technology, strong market position in aerospace and defence, and outstanding people.”
In reference to those adjustments, the Board invited Mr. Rovinescu to secured as a director and Chair and Ms. Lehman to secured as a director. The Caisse de dépôt et placement du Québec (CDPQ), one of the crucial Corporate’s biggest shareholders, nominated Mr. Têtu to the Board pursuant to a commonplace nomination rights commitment with the Corporate. Browning West, LP nominated Mr. Lee to the Board pursuant to a commonplace cooperation and standstill commitment with the Corporate. Mr. Lee and Mary Lou Maher will co-chair the CEO Seek Committee, operating carefully with Mr. Rovinescu as Chair of the Board, to proceed the recruitment procedure prior to now overseen through the Board’s Human Sources Committee.
The dimensions of the Board extra unchanged at 13 because the 4 appointments are being made at the side of the resignation of 4 administrators: Alan N. MacGibbon, who has served as Chair of the Board since 2022 and as a director since 2015; Margaret S. (Peg) Billson, who has served at the Board since 2015; François Olivier, who has served at the Board since 2017; and David G. Perkins, who has served at the Board since 2020. Those administrators have overseen a duration of important expansion and alter for CAE because it has moved from basically an commercial merchandise corporate to an international chief in flying coaching answers. The Corporate needs to thank them for his or her remarkable provider and decent contributions throughout their tenure.
Stated Mr. MacGibbon, “During my time on the Board, I have seen the Company become a global leader in training for civil aviation and defence and security forces, furthering its mission to make the world a safer place. I am honoured to have been involved in CAE’s story and I thank CAE’s employees, management and my Board colleagues for their dedication to the Company. With a dynamic and engaged Board that is fully aligned on the process and transition to CAE’s next CEO, there is no better time for me to transition the Chair role to Calin. I am confident Calin’s proven track record in value creation and exemplary leadership skills will allow the Company to continue to be a leader in the sector and deliver value to its broad group of stakeholders.”
Added Mr. Rovinescu, “I would like to acknowledge and thank Alan for the tremendous leadership he has shown during his time at CAE. Even as he prepared to retire from the Company, Alan remained committed to ensuring that the CEO succession process proceed smoothly and effectively, as evident in his decision to make way for a new Chair who will work hand in hand with the incoming CEO. His guidance during this critical transition period is a testament to his enduring commitment to CAE and its future. Alan has set a high standard, and we are profoundly grateful for his board service and the legacy he leaves behind. I would also like to acknowledge and thank each of Peg, François and David for their service and contributions during their tenure.”
Mr. MacGibbon concluded, “On behalf of the Board, I would like to thank CDPQ and Browning West, as well as our other shareholders, who worked constructively with us throughout this process with the shared goal of creating sustainable and substantial shareholder value at CAE.”
In regards to the Incoming Administrators:
Mr. Rovinescu is a company director, challenge capital investor and senior guide to a number of companies. He’s lately a member of the board of administrators of a few of Canada’s biggest companies. He served as President and Government Officer of Breeze Canada from 2009 till his resignation in 2021, chief Breeze Canada’s transformation into one of the crucial international’s chief airways and a Canadian international champion, increasing its community international and generating file monetary effects and file accumulation marketplace efficiency. From June 2014 to June 2015, hour chief Breeze Canada, he served as Chair of the Global Breeze Shipping Affiliation (IATA), a industry affiliation that lately represents 340 airways comprising greater than 80 in line with cent of worldwide breeze site visitors. From 2012 to 2016 he additionally served as Chair of the Celebrity Alliance government board, the controlling frame of Celebrity Alliance, the sector’s biggest international airline alliance, lately with 25 contributors. From 2004 to 2009, he was once a co-founder and main of Genuity Capital Markets, an free funding storage. Previous to 2000, he was once the Managing Spouse of the regulation company Stikeman Elliott in Montréal, the place he practised company regulation for over two decades. Mr. Rovinescu holds Bachelor of Regulation levels from Université de Montréal and the College of Ottawa. He was once known as Canada’s Exceptional CEO of the Moment through Monetary Publish Booklet in 2016 and as CEO of the Moment and Strategist of the Moment through the Globe and Mail’s Document on Trade Booklet in 2019. Mr. Rovinescu is a member of the Form of Canada and was once inducted into the Canadian Trade Corridor of Reputation in 2021.
Mr. Lee, along with being a Co-Founder and Spouse of Browning West, LP, performs a chief position in that company’s funding analysis and capital allocation. Earlier than co-founding Browning West in 2019, he was once an funding colleague at Criterion Capital Control, the place he was once liable for figuring out and researching funding alternatives throughout more than one sectors. Mr. Lee additionally held roles at Gray Mountain Companions and Lazard. Moreover, he’s lately a director at the board of Gildan Activewear Inc. the place he serves as Chair of the Repayment and Human Sources Committee and as a member of the Company Governance and Social Accountability Committee. He has additionally served at the board of Geographical region Homes plc. Mr. Lee holds a Bachelor of Arts from Carleton School and a Grasp of Trade Management from Harvard Trade Faculty.
Ms. Lehman is the stream Chair of Stella Jones Inc. (TSX:SJ), a Montréal founded, ~ C$6 billion undertaking worth commercial trade, and has been a Spouse on the Brandnew York-based non-public fairness company Palladium Fairness Companions, LLC since 2022. She leads the Palladium Heritage technique, which invests in commercial and trade products and services firms. Previous to Palladium, she was once Co-Founder and Managing Spouse at Hilltop Personal Capital, LLC. She has garnered greater than two decades of enjoy in non-public fairness government roles and Board memberships, together with at greater than 20 nation and personal, cash in and not-for-profit entities. Incorporated in Ms. Lehman’s prior Board roles are serving at the Board of a non-public corporate in a distinct segment schooling and coaching department and serving at the Board of Navient (NASDAQ: NAVI) from 2014 to 2022, with roles as Chair of the Possibility Committee and repair at the Repayment and Staff Committee and the Governance Committee.
Mr. Têtu has been Chair and Government Officer of the Montreal-based generation corporate Coveo Answers Inc. since 2012. Previous to Coveo, Mr. Têtu co-founded Taleo Company, a chief world supplier of cloud application for skill and human capital control, indexed on NASDAQ in 2005 and due to this fact got through Oracle for US$1.9 billion in 2012. Mr. Têtu was once Government Officer and Chairman of the board of administrators from the corporate’s inception in 1999 thru 2007. Previous to Taleo, Mr. Têtu was once President of Baan SCS, the supply-chain control answers workforce of Baan, an international undertaking application corporate. This adopted Baan’s acquisition of Berclain Team inc., which he co-founded in 1989 and the place he served as President till 1996. Mr. Têtu lately serves at the board and human sources and company governance committees of Alimentation Couche-Tard Inc. (CircleK). He prior to now served at the board of Commercial Alliance Insurance coverage and Monetary Products and services inc. Mr. Têtu is an Engineering graduate from Université Laval in Québec Town and a commercially approved helicopter pilot.
About CAE
At CAE, we equip society in important roles with the experience and answers to assemble a more secure international. As a generation corporate, we digitalize the bodily international, deploying software-based simulation coaching and demanding operations aid answers. Above all else, we empower pilots, cabin team, upkeep technicians, airways, trade flying operators, and defence and safety forces to accomplish at their very best each week and when the stakes are the best possible. Around the world, we’re in all places consumers want us to be with roughly 13,000 workers in additional than 240 websites and coaching places in over 40 nations. CAE represents greater than 75 years of business firsts—the highest-fidelity flying and venture simulators in addition to coaching techniques powered through virtual applied sciences. We embed sustainability in the whole thing we do. As of late and day after today, we’ll build certain our consumers are in a position for the moments that topic.
Learn our FY24 Global Annual Activity and Sustainability Report.
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Warning regarding forward-looking statements
This press let fall comprises forward-looking statements about CAE’s ongoing CEO seek procedure and transition to its upcoming CEO and CAE’s technique and its anticipated affects at the corporate and its stakeholders, in addition to CAE’s actions, occasions and trends that we predict to or wait for would possibly happen going forward together with, for instance, statements about CAE’s optic, methods, marketplace traits and outlook, past revenues, income, money wave expansion, cash in traits, expansion capital spending, expansions and fresh tasks, together with tasks that pertain to environmental, social and governance (ESG) issues, monetary duties, to be had liquidities, anticipated gross sales, basic financial and political outlook, inflation traits, possibilities and traits of an business, anticipated annual routine price financial savings from operational excellence techniques, our control of the provision chain, estimated addressable markets, calls for for CAE’s services, our get admission to to capital sources, our monetary place, the anticipated accretion in numerous monetary metrics, the anticipated capital returns to shareholders, our trade outlook, trade alternatives, targets, building, plans, expansion methods and alternative strategic priorities, and our aggressive and management place in our markets, the growth of our marketplace stocks, CAE’s skill and preparedness to reply to call for for fresh applied sciences, the sustainability of our operations, and alternative statements that don’t seem to be historic information.
Since forward-looking statements and data relate to past occasions or past efficiency and replicate stream expectancies or ideals referring to past occasions, they’re in most cases recognized through phrases equivalent to “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “likely”, “may”, “plan”, “seek”, “should”, “will”, “strategy”, “future” or the unfavorable thereof or alternative diversifications thereon suggesting past results or statements referring to an outlook. All such statements represent “forward-looking statements” throughout the that means of appropriate Canadian securities law and “forward-looking statements” throughout the that means of the “safe harbor” provisions of america Personal Securities Litigation Reform Work of 1995. By way of their nature, ahead browsing statements require CAE to build guesses and are topic to inherent dangers and uncertainties related to CAE’s trade which would possibly reason latest ends up in past sessions to fluctuate materially from effects indicated in forward-looking statements. Occasion those statements are in accordance with control’s expectancies and guesses referring to historic traits, stream situations and anticipated past trends, in addition to alternative elements that CAE believes are affordable and suitable within the cases, readers are cautioned to not park undue reliance on those forward-looking statements as there’s a chance that they will not be correct. The forward-looking statements contained on this press let fall describe our expectancies as of February 13, 2025 and, accordingly, are topic to switch nearest such pace.
Noteceable dangers that might reason such variations come with, however don’t seem to be restricted to, strategic dangers, equivalent to geopolitical indecision, international financial situations, aggressive trade climate, actual apparatus producer (OEM) leverage and encroachment, inflation, world scope of CAE’s trade, adjustments in U.S. industry insurance policies or laws, degree and timing of defence spending, constraints throughout the civil flying business, CAE’s skill to penetrate fresh markets, analysis and building actions, evolving requirements and generation innovation and disruption, dimension of gross sales cycle, trade building and awarding of fresh oaths, strategic partnerships and long-term oaths, chance that CAE can not ensure buyers that we will be able to successfully govern our expansion, estimates of marketplace alternative and competing priorities; operational dangers, equivalent to delivery chain disruptions, program control and execution, mergers and acquisitions, trade perpetuity, subcontractors, fastened value and long-term delivery oaths, CAE’s persevered reliance on positive events and data, and fitness and protection; cybersecurity dangers; skill dangers, equivalent to recruitment, building and retention, skill to draw, engage and hold key body of workers and control, company tradition and labour family members; monetary dangers, equivalent to availability of capital, buyer credit score chance, foreign currency echange, effectiveness of inside controls over monetary reporting, liquidity chance, rate of interest volatility, returns to shareholders, shareholder activism, estimates old in accounting, impairment chance, 401-k plan investment, indebtedness, acquisition and integration prices, gross sales of spare ordinary stocks, marketplace value and volatility of CAE’s ordinary stocks, seasonality, taxation issues and altered backlog; criminal and regulatory dangers, equivalent to knowledge rights and governance, U.S. international possession, keep an eye on or affect mitigation measures, compliance with regulations and laws, insurance plans doable gaps, product-related liabilities, environmental regulations and laws, govt audits and investigations, coverage of CAE’s highbrow detail and emblem, third-party highbrow detail, international non-public issuer situation, and enforceability of civil liabilities towards CAE’s administrators and officials; ESG dangers, equivalent to ultimate situation occasions and the have an effect on of herbal or alternative screw ups (together with results of situation exchange) and extra acute scrutiny and belief gaps referring to ESG issues; reputational dangers; and technological dangers, equivalent to knowledge generation and reliance on third-party suppliers for info generation methods and infrastructure control. The foregoing listing isn’t exhaustive and alternative unknown or unpredictable elements may even have a subject matter hostile impact at the efficiency or result of CAE. Moreover, variations may be on one?s feet as a result of occasions introduced or finished nearest the pace of this press let fall. Extra details about the hazards and uncertainties affecting CAE’s trade may also be discovered within the Control’s Dialogue & Research for the day ended March 31, 2024 and the Control’s Dialogue & Research for the 0.33 quarter ended December 31, 2024. Accordingly, readers are cautioned that any of the disclosed dangers can have a subject matter hostile impact on CAE’s forward-looking statements. Readers also are cautioned that the hazards described above and in other places on this press let fall, and within the paperwork referenced herein, don’t seem to be essentially the one ones CAE faces; spare dangers and uncertainties which might be at the moment unknown to CAE or that CAE would possibly lately deem immaterial would possibly adversely have an effect on CAE’s trade.
Aside from as required through regulation, CAE disclaims any purpose or legal responsibility to replace or revise any forward-looking statements whether or not on account of fresh knowledge, past occasions or another way. The forward-looking knowledge and statements contained on this press let fall are expressly certified through this cautionary commentary. As well as, statements that “we believe” and matching statements replicate our ideals and critiques at the related topic. Those statements are in accordance with knowledge to be had to us as of the pace of this press let fall. Occasion we consider that knowledge supplies an inexpensive foundation for those statements, that knowledge is also restricted or incomplete. Our statements must now not be learn to signify that we have got carried out an exhaustive inquiry into, or evaluation of, all related knowledge. Those statements are inherently unsure, and buyers are cautioned to not unduly depend on those statements.
CAE Contacts:
Basic Media:
Samantha Golinski, Vice President, Folk Affairs & International Communications
+1-438-805-5856, [email protected]
Investor Members of the family:
Andrew Arnovitz, Senior Vice President, Investor Members of the family and Undertaking Possibility Control,
+1-514-734-5760, [email protected]
SOURCE CAE Inc.
