Image: Embraer
Embraer has announced that CEO Paulo Cesar de Souza e Silva will be stepping down on April 22, 2019, at the end of his current two-year elected term. The announcement comes after one of Silva’s primary initiatives—a partnership with Boeing that will see Boeing take over 80 percent of the Brazilian company’s passenger aircraft business—was approved by Embraer shareholders last month. As previously reported on AVweb, the deal also includes a 49-percent stake for Boeing in the development of the KC-390 multi-mission military transport aircraft.
“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,” said Silva. “I am sure that the new leadership of the company will find fertile ground ahead to expand and consolidate Embraer.” The company says its next President and CEO will be recruited externally and announced on or before April 22.
Silva became president and CEO of the Embraer Group in 2016 and has worked for the company for 22 years. In addition to spearheading the partnership with Boeing, his administration is credited with the creation of EmbraerX—a division focused on building “disruptive new businesses”—and Embraer’s Passion for Excellence program, which aims to reduce costs and increase operational efficiency. According to Embraer, Silva has been invited to be a senior advisor to the board.
