Embraer To Name New Chief Executive

 - March 18, 2019, 5:02 PM

Embraer will name a new CEO on or before its Ordinary General Assembly on April 22, following the end of Paulo Cesar Silva’s two-year elected term, the Brazilian company announced Tuesday. The company added the board will recruit a new chief executive externally.

“Paulo Cesar idealized the partnership with Boeing and led the negotiation process of the transaction that will bring Embraer and Brazil to a much more competitive and prominent level in the global aviation industry,” said Embraer chairman Alexandre Silva.

CEO Silva joined Embraer from the financial market 22 years ago to structure the company's sales financing area. For six years he served as president and CEO of Commercial Aviation and in 2013 he launched the E2 program, the latest iteration of the E-Jet narrowbody line.

Silva became president and CEO of the Embraer Group in 2016, at which time his administration established three key initiatives involving “value creation” and the sustainability of the company, led by the Boeing transaction. The second initiative involved the creation of the Passion for Excellence program, a structural transformation project focused on reducing costs and increasing operational efficiency and generating significant annual recurring savings. The third centered on the creation of EmbraerX, responsible for “disruptive” innovation and the development of future projects such as the eVTOL (electric vertical take-off and landing vehicle) partnership with Uber.

Embraer invited Silva to serve as a senior advisor to the board, in which he has agreed to help with the transition to the future president and CEO and counseling the board on the asset monitoring and segregation of resources as part of the process of concluding the partnership with Boeing.