MONTREAL, July 25,
2024 /PRNewswire/ - (NYSE: CAE) (TSX: CAE) -
CAE Inc. (CAE or the Company) today announced that Sonya
Branco, Executive Vice President, Finance and Chief Financial
Officer ("CFO"), has advised the company of her intention to step
down from her position at the end of August to pursue interests
outside of CAE. As part of CAE's succession plan, Constantino Malatesta, Chief Accounting Officer
and Vice-President, Controller Office, will become interim CFO
following Ms. Branco's departure. A process is underway to identify
and select a permanent CFO, and Ms. Branco will continue in a
support capacity to ensure a seamless transition.
Ms. Branco has been CAE's Executive Vice President, Finance and
CFO since 2016. She joined CAE in 2008 and was appointed to the
role of Vice President and Corporate Controller in 2011.
During her tenure, Ms. Branco was instrumental in the
transformation of CAE into the world's largest civil aviation
training provider, which -- combined with Defense & Security --
makes CAE a company with highly recurring sources of revenue
and cash flow. She presided over a period of significant expansion
involving more than 20 acquisitions and their integration. Ms.
Branco also planned and executed a capital allocation strategy,
balancing accretive growth with maintaining a strong financial
position and investment grade profile that allowed CAE to
successfully navigate the COVID pandemic and beyond.
"On behalf of myself, CAE's Board of Directors, and the entire
executive management team, I wish to express my sincere
appreciation to Sonya for her numerous contributions to CAE's
success over the last 17 years," said Marc
Parent, President and Chief Executive Officer.
"Sonya led CAE's finance organization through a period of
significant growth and reached many important milestones. We have
benefitted greatly from Sonya's stewardship, her insightful
mentorship of her colleagues, and her deep commitment to the
Company. We wish Sonya the very best in her future endeavours."
Added Mr. Parent, "Constantino has worked closely with Sonya for
many years, and he has a deep knowledge of CAE's business and an
extensive background in finance that will provide continuity and
stability at CAE. I have full confidence in Constantino's ability
to oversee the Company's financial operations and strategy as we
move forward with our selection process for the permanent CFO role,
for which we will consider both internal and external
candidates."
Mr. Malatesta was appointed CAE's Chief Accounting Officer and
Vice-President, Controller Office, in 2022. Before that he was Vice
President, Finance and Corporate Controller (2016-2022), Global
Head of Finance, CAE Oxford Aviation Academy (2014-2016), and
Director, Finance and Assistant Corporate Controller (2011-2014).
He joined CAE in 2006 as Manager, Accounting Standards. Mr.
Malatesta is a Chartered Professional Accountant and U.S. Certified
Public Accountant. He obtained a Bachelor of Commerce Degree and a
Graduate Diploma in Accounting from Concordia
University in Montreal.
About CAE
At CAE, we equip people in critical roles with the expertise and
solutions to create a safer world. As a technology company, we
digitalize the physical world, deploying software-based simulation
training and critical operations support solutions. Above all else,
we empower pilots, cabin crew, maintenance technicians, airlines,
business aviation operators, and defence and security forces to
perform at their best every day and when the stakes are the
highest. Around the globe, we're everywhere customers need us to be
with approximately 13,000 employees in more than 240 sites and
training locations in over 40 countries. CAE represents more than
75 years of industry firsts—the highest-fidelity flight and mission
simulators as well as training programs powered by digital
technologies. We embed sustainability in everything we do. Today
and tomorrow, we'll make sure our customers are ready for the
moments that matter.
CAE Contacts:
General Media:
Samantha
Golinski, Vice President, Public Affairs & Global
Communications
+1-438-805-5856, samantha.golinski@cae.com
Investor Relations:
Andrew Arnovitz, Senior Vice
President, Investor Relations and Enterprise Risk Management,
+1-514-734-5760, andrew.arnovitz@cae.com
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SOURCE CAE Inc.