New President and CEO for Embraer

Embraer S.A., the Brazilian plane maker, has announced the nomination of Francisco Gomes Neto to take over from Paulo Cesar de Souza e Silva in the position of President and CEO, which should become a formal appointment after the election process which will be held at the forthcoming General Shareholder’s Meeting on April 22. Neto is currently the president of Marcopolo, the Brazilian bus and coach manufacturer.

The role will be a challenging one for Neto with Embraer having recently hived of its commercial plane manufacturing division and related services, forming a new joint-venture company with Boeing holding an 80 percent stake and Embraer a 20% stake. This move had led to considerable opposition owing to the fact that this division was primarily responsible for the whole company operating at a profit. Last month Boeing announced B. Marc Allen, a Boeing executive, as President and Embraer airliner head John Slattery as CEO. Neto will now be responsible for the existing military aircraft and executive jet operations.

With an Electrical Engineering degree, a specialization in Business Administration and an MBA in Controllership and Finance, Francisco Gomes Neto built his career in the automotive industry, holding CEO positions over the last 20 years, both in Brazil and in the United States. Over the past three years, he has served as CEO of Marcopolo, in which he successfully led the company’s transformation, generating strong sales growth and market value for the business. Previously, he was the CEO Americas for Mann+Hummel and President of Knorr Bremse (global leader in control systems for commercial vehicles), among other leadership positions.

“With vast international experience and focus on industrial sector management, I am confident that Francisco Gomes Neto has the right profile and competencies to lead Embraer through this period of transformation of the company and of the global aerospace sector,” said Alexandre Silva, Chairman of Embraer’s Board of Directors, about the nomination.

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