LATECOERE : Latécoère reorganizes its Management Board
Latécoère Group's Supervisory Board met on 23 June 2014.
Chief Executive Officer in charge of Operations and Management Board member, Eric Gillard, is stepping down from his positions within the Group. A new member will be appointed to the Management Board at a later date.
The Supervisory Board and its Chairman, Pierre Gadonneix, thanked Eric Gillard for his years of dedication to the development of the Latécoère Group as Head of Aerostructures business arm, Chief Operating Officer and finally as Chief Executive Officer.
The Supervisory Board also reiterated its full support for the Boost recovery plan currently underway and overseen by Management Board Chairman, Frédéric Michelland.
According to Pierre Gadonneix: "The Latécoère Group must continue the efforts it has undertaken thus far to restore the operational excellence that is vital to the development of our company and profitable growth. This operational excellence will enable the Group to fully capitalize on its recognized assets and expertise across all of its sectors. At the same time, Latécoère must accelerate its adjustment to the ramp-up in production for major aircraft manufacturers and constantly seek to improve the Group's competitiveness".
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:
- Aerostructure Industrial (55% of total revenue): fuselage sections and doors.
- Aerostructure Services (15% of total revenue): design, stress analysis and definition of industrial products - design, manufacturing & maintenance of tooling and special assemblies
- Interconnexion Systems (30% of total revenue): onboard wiring, electrical harnesses and avionics bays.
The Group employed as of December 31, 2013 4,617 people, in 10 countries.
Latécoère had total consolidated revenue of €621.1 million in 2013 and as of December 31, 2013 its order book stood at €2.58 billion (based on a USD/EUR exchange rate of 1.35).
Latécoère, a French corporation (société anonyme) with capital of €23,017,186 divided into 11,508,593 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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