Following shareholder approval of the
transaction with Boeing, Embraer has confirmed that the current President and
CEO of the company, Paulo Cesar de Souza e Silva, will end his
two-year term on 22 April 2019.
President and CEO, to be elected for the next term, will be
recruited externally and is expected to be announced on or before the Ordinary
General Assembly on 22 April.
"Paulo Cesar idealized the partnership with Boeing and led the
negotiation process of the transaction that will bring Embraer and
Brazil to a much more competitive and prominent level in the
global aviation industry," said Alexandre Silva, Chairman of the
Paulo Cesar has been with Embraer for 22 years,
coming from the
financial market to structure the company's sales financing area.
For six years he was President and CEO of Commercial Aviation and
in 2013 launched the E2 Program.
2016, Paulo Cesar became President and CEO of the Embraer Group,
with a mission to make the company more efficient, competitive and
better prepared to face structural changes in the global aviation
His administration established three key
initiatives focused on value creation and the sustainability of
the company. The first was the transaction with Boeing. The second
was the creation of the Passion for Excellence program, a
structural transformation project focused on reducing costs and
increasing operational efficiency, generating significant annual recurring savings. The third was the creation of EmbraerX,
responsible for disruptive innovation and the development of opportunities for the future, such as eVTOL (electric vertical
take-off and landing vehicle), a project that Embraer says "will revolutionize urban transport" in partnership with Uber.
support of the Board and Embraer's 18,000 employees and
colleagues, none of our achievements would have been possible,"
said Paulo Cesar. "We are challenged to remain at the forefront
of engineering and operations. In Executive Aviation and Defense,
and with the KC 390 joint venture with Boeing, we will expand our
international competitiveness and everything indicates that we
will have another 50 years of success ahead ... I am
sure that the new leadership of the company will find fertile
ground ahead to expand and consolidate Embraer."
Cesar has been invited to be a Senior Advisor to the Board, with the
task of facilitating the integration of the future President and
CEO and advising the Board on the monitoring of assets and
resources segregation, an integral part of the process of
concluding the partnership with Boeing.