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Aviation News Item: 01051
12th Aug 2009
Brown to Retire as President and CEO of CAE
Source: fly-corporate.com
 Robert E Brown, CAE's President and CEO, will retire on 30 September 2009 and Marc Parent, CAE's Executive Vice President and Chief Operating Officer will succeed Mr Brown as President and CEO at that time. Mr Brown will continue as an advisor until the end of December 2009.
Robert E Brown became President and CEO of CAE on 12 August 2004. Under his leadership, CAE's annual revenue grew 77 percent from C$938.4 million in fiscal 2004 to C$1.7 billion in fiscal 2009. During the same period, net debt decreased 46 percent from C$530 million to $285 million and backlog increased by 39 percent to a record C$3 billion. Despite the economic downturn, CAE's workforce grew to more than 6,500 employees which is 1,500 more than at the beginning of Mr Brown's mandate.
Marc Parent joined CAE in February 2005 as Group President, Simulation Products, responsible for two of CAE's businesses: the design and manufacture of simulation products for the civil and military markets. His role was expanded in May 2006, when he was appointed Group President, Simulation Products and Military Training & Services. He was promoted to Executive Vice President and Chief Operating Officer in November 2008 and became responsible for all four of CAE's segments as well as the new growth initiatives. He also became a member of CAE's Board of Directors in November 2008.
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