Bertrand Parmentier is appointed CEO and Chairman of the Management Board Eric - Gillard becomes Chief Operating Officer

Latécoère Supervisory Board met on May 16, 2013.

François Bertrand is stepping down from its position of Chief Executive Officer and from the Management Board of Latécoère. The Supervisory Board and its Chairman Pierre Gadonneix thanked François Bertrand for the Group's major achievements in France and internationally during his more than ten years leadership.

The Supervisory Board appointed Bertrand Parmentier, up to now Executive Vice-President as Chief Executive Officer and Chairman of the Management Board. It also confirmed as a member of the Management Board Eric Gillard; he becomes Chief Operating Officer.

Under their leadership, Latécoère Group will implement its transformation plans towards an operational excellence combining both customer satisfaction and return on investment on programmes. The Management Board will promote an efficient financial structure.

Latécoère will continue to look for opportunities to actively take part to the sector consolidation.

Bertrand Parmentier stated his willingness to accelerate the modernization process of the Group initiated in 2009. He declared:

“Latécoère has strong and complementary positions in aerostructures (fuselages and doors) and interconnexion systems, thanks to its engineering skills and its recognised ability to achieve technical integration throughout the design-development-manufacturing-services cycle. Our priority is to ensure that the multi-customer, multi-programme industrial platform we have built is economically robust. Eric Gillard and I firmly intend to focus on operational excellence as a lever of sustainable competitiveness. I firmly intend to do my utmost to promote this policy, with the aim of completing new value-creating projects for Latécoère, its employees, its shareholders, its customers and its partners.”

Pierre Gadonneix added:” It is an important step in company's development and I trust the new management to impulse a new momentum to Latécoère Group”.

About Latécoère

Latécoère is a tier 1 partner to major international aircraft manufacturers (Airbus, Embraer, Dassault, Boeing and Bombardier), in all segments of the aeronautical market (commercial, regional, corporate and military aircraft), specializing in three fields:

- Aerostructures (60% of total revenue): fuselage sections and doors.

- Interconnexion systems (27% of total revenue): onboard wiring, electrical harnesses and avionics bays.

- Engineering and Services (13% of total revenue): design, stress analysis and definition of industrial products - design, manufacturing & maintenance of tooling and special assemblies.

The Group employed as of December 31, 2012 4,288 people, in 10 countries.

Latécoère had total consolidated revenues of €643.6 million in 2012 and as of December 31, 2012 its order book stood at €2.1 billion (based on a USD/EUR exchange rate of 1.35).

Latécoère, a French corporation (société anonyme) with capital of €18,648 038 divided into 9,324,019 shares with a par value of €2 per share is listed on Euronext Paris - Compartment C.

ISIN code: FR0000032278 - Reuters code: LAEP.PA - Bloomberg code: LAT.FP

 

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