Mauricio Botelho Recognized at LABACE
Former Embraer president and CEO Mauricio Botelho was honored at the opening general session of the Latin American Business Aviation Conference & Exhibition (LABACE) in August as the Brazilian Emeritus Aviation Personality. Botelho accepted the award on behalf of the company for which he assumed responsibility in 1995. The year before, Embraer had recorded losses of $330 million on revenues of just $250 million. By 1998, under Botelho’s leadership, Embraer was showing a profit. He turned the company over to his successor, Frederico Corado, in April 2007. That year, Embraer revenues came in at $5.245 billion, and net income was reported at $489.3 million.