BOMBARDIER INC. Bombardier Inc. / Bombardier Announces Organizational Changes to Support Turnaround Plan . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.
MONTREAL, QUEBEC--(Marketwired - Jan 25, 2017) - Bombardier (TSX: BBD.A)(TSX: BBD.B)(OTCQX: BDRBF) today announced the following changes in responsibilities for members of its senior management team. Effective immediately, Nico Buchholz will assume a new role as Senior Vice President, Strategic Initiatives and Jim Vounassis will assume the Chief Procurement Officer responsibilities in addition to continuing to lead the company's operations transformation as Bombardier's Chief Transformation and Procurement Officer.
"Nico, who joined Bombardier in September 2015 and served as the Company's Chief Procurement Officer, has been instrumental in establishing a more centralized, focused and efficient procurement organization," said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc. "As a result of his outstanding efforts, the company obtained significant cost savings, strengthened its relationship with suppliers and is well positioned to continue to achieve the cost reductions necessary to support our turnaround plan."
"In his new position, Nico will work closely with me and Bombardier's leadership team to pursue key growth initiatives across both our rail and aerospace businesses," Bellemare continued. "Nico is ideally suited for this position given his strong leadership experience and deep industry knowledge and relationships in the aerospace and industrial sectors."
Going forward, Bombardier's global procurement activities will be led by Jim Vounassis. Jim joined Bombardier in June 2015, serving as the company's Chief Transformation Officer with responsibility for transforming the company's operations, to reduce costs, improve efficiency and support Bombardier's growth objectives.
"Jim's tremendous performance over the past 18 months, leading Bombardier`s operations transformation, has helped us set a strong foundation for growth and position the company to achieve its 2020 goals and deliver greater value to customers and shareholders," said Mr. Bellemare. "Expanding Jim's responsibilities to include global procurement is a natural evolution of our operations transformation as we focus on driving greater efficiencies across our extended value chain."
Both Buchholz and Vounassis will continue to report to Bellemare as members of Bombardier's senior leadership team.
About Bombardier
Bombardier is the world's leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.
Bombardier is headquartered in Montreal, Canada. Our shares are traded on the Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability North America Index. In the fiscal year ended December 31, 2015, we posted revenues of $18.2 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.
Bombardier and The Evolution of Mobility are trademarks of Bombardier Inc. or its subsidiaries.
Contact Information
Contacts:
Simon Letendre
Senior Advisor, Public Affairs
Bombardier Inc.
+514 861 9481
Patrick Ghoche
Vice President, Investor Relations
Bombardier Inc.
+514 861 5727
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Bombardier Inc. via Globenewswire
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Bombardier Inc.
800 Rene-Levesque Blvd. West Montreal, QC Canada
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
