Bombardier Announces Corporate Office Staff Reduction and Organizational Changes.MONTREAL -- Bombardier Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BBD BBD In currencies, this is the abbreviation for the Barbados Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. .MV.A) announced today a reorganization of its corporate office and the decentralization de·cen·tral·ize v. de·cen·tral·ized, de·cen·tral·iz·ing, de·cen·tral·iz·es v.tr. 1. To distribute the administrative functions or powers of (a central authority) among several local authorities. of certain functional responsibilities to Bombardier Aerospace Bombardier Aerospace is a division of the Bombardier group, with the third largest workforce (behind Boeing and Airbus) and the fourth largest in yearly delivery of commercial airplanes (behind Boeing, Airbus and Embraer). and Bombardier Transportation Bombardier Transportation is the rail equipment division of the Bombardier group. Bombardier Transportation is the world’s largest company in the rail equipment manufacturing and servicing industry. Its headquarters are in Berlin. . The reorganization follows the previously announced creation of the Office of the President that regroups strategic and executive management responsibilities around the Chairman and Chief Executive Officer and the Presidents of the Corporation's two main operating groups. A total of 60 corporate office positions will be eliminated. Bombardier also announced that Mr. Michael Denham, Senior Vice President, Strategy, is leaving the Corporation effective immediately. Mr. Richard Bradeen is appointed Senior Vice President, Strategy and CASRA CASRA California Association of Social Rehabilitation Agencies (Corporate Audit Services and Risk Assessment) and will assume the corporate strategy function in addition to his present responsibilities. "Announcing layoffs is always difficult, but the restructuring of our corporate office allows certain functions to reside in the operating groups and be managed by the respective Presidents, Mr. Andre Navarri at Bombardier Transportation and Mr. Pierre Beaudoin at Bombardier Aerospace," said Mr. Laurent Beaudoin Laurent Beaudoin, C.C., O.Q., M.Comm., D.Sc.Adm., F.C.A., (born May 13, 1938, in Laurier Station, Quebec) is a Canadian businessman. The son-in-law of Joseph Armand Bombardier, Beaudoin became Chief Executive Officer of Bombardier, Inc. , Chairman of the Board and Chief Executive Officer, Bombardier Inc. "I wish to sincerely thank those employees leaving us for their years of devoted service to Bombardier." "I also wish to thank Michael for his loyal service to Bombardier," added Mr. Beaudoin. "His contribution in many critical files over the past four years has been significant. On behalf of the Board of Directors and all Bombardier employees, I wish him well in his new endeavours." "Richard Bradeen has been a solid leader at Bombardier for seven years now. With his background in corporate strategy, he is well positioned to support me and the Office of the President as we focus on the development of the Corporation's overall strategy," said Mr. Beaudoin. The Corporation also announced the appointment of Mr. John Paul Macdonald as Senior Vice President, Public Affairs, effective immediately. Mr. Macdonald assumes his duties in addition to his current communications and government affairs responsibilities at Bombardier Aerospace. "John Paul is an experienced communicator who has proven himself since he joined Bombardier Aerospace three years ago. I am very pleased to have him join my management team," concluded Mr. Beaudoin. About Bombardier A world-leading manufacturer of innovative transportation solutions, from regional aircraft and business jets to rail transportation equipment, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2004 were $15.5 billion US and its shares are traded on the Toronto and Frankfurt stock exchanges Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. (BBD and BBDd.F). News and information are available at www.bombardier.com. |
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