(AOF) – Given the rise of the industry, Latecoere is changing its governance in order to improve its strategic positioning and fully support its post-Covid growth. Thus, on the recommendation of the Appointments, Remuneration and CSR Committee, the Board of Directors proposed to the next Annual General Meeting, which will be held on July 26, 2023, the appointment of Thierry Mootz as director to replace of Pierre Gadonneix, whose mandate expires when he reaches the age limit stipulated in the company’s articles of association.
Subject to the proper holding of said General Meeting, it will be proposed to modify the governance of the Latecoere group by combining the functions of Chairman of the Board of Directors and Chief Executive Officer in the person of Thierry Mootz.
AOF – LEARN MORE
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 weighs more than 100 billion dollars per year. However, this duopoly seems to be weakened in 2022 for several reasons. First, for the first time, two medium-haul single-aisle aircraft, the Chinese Comac’s C919 and the Russian Irkut’s MC-21, are about 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 broken. In 2021 Boeing posted 340 deliveries, with Airbus remaining well ahead with 611.