(AOF) – Latecoere, on the recommendation of the Appointments, Remuneration and CSR Committee, has appointed Greg Huttner to the position of Chief Executive Officer of the Group. This change will allow the company to accelerate and fully realize its plan to secure the increased production required by customers as part of the recapitalization, which was announced before the summer and is currently underway . He joined Latecoere as a member of the board of directors and member of its strategic committee in June 2019.
He was appointed member of the group’s executive committee, general manager of the Aerostructures division in March 2020, and deputy general manager of the group in August 2021 and general manager of the Interconnection Systems division in November 2022.
Thierry Mootz, who combined the functions of Chairman of the Board of Directors and Managing Director, will continue to serve as non-executive Chairman of the Board of Directors from today.
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The end of a duopoly?
For several decades, the American Boeing and the European Airbus have shared 99% of the world market for airliners with more than 110 seats. This market is worth more than 100 billion dollars per year. However, this duopoly appears weakened in 2022 for several reasons. First, for the first time, two medium-haul single-aisle aircraft, the C919 from China’s Comac and the MC-21 from Russia’s Irkut, are preparing to enter service. Added to this is the Boeing 737 MAX crisis. With the cessation of deliveries of this aircraft between 2019 and 2021, the production balance has been disrupted. In 2021 Boeing posted 340 deliveries, with Airbus remaining well in the lead, with 611.