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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  EMBRAER S.A.    EMBR3   BREMBRACNOR4

EMBRAER S.A.

(EMBR3)
  Report
End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 01/22
8.66 BRL   -2.48%
10:36aBusiness jet prices stabilizing in 2021 after year-end order blitz
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More senior executives leave Embraer as dust settles over failed Boeing deal

06/16/2020 | 09:29am EST
FILE PHOTO: A logo of Business jets maker Embraer Executive Jets is pictured on their booth during EBACE in Geneva

By Marcelo Rochabrun, Allison Lampert and Rodrigo Viga Gaier

Four senior executives are leaving Embraer SA, in addition to its commercial aviation chief, in the wake of a failed deal with Boeing Co and as a new chief executive reassess the jet maker's path forward, three sources said.

The executives include Nelson Salgado, current Chief Operations Officer who previously worked as Chief Financial Officer and has worked at Embraer for more than 30 years.

Also out is Antonio Campello, who headed the company's innovation arm known as EmbraerX, whose best-known project is a vertical take-off and landing vehicle being developed in cooperation with Uber.

The aircraft project is personally supported by Embraer's CEO Francisco Gomes Neto, who considers it a high-risk, high-reward project.

Embraer named Gomes Neto, an outsider, as CEO last year, when it seemed like a done deal that the planemaker would sell its commercial aviation unit to Boeing for $4.2 billion and refocus its business on smaller executive jets and defense.

Instead, Gomes Neto had to scramble to find a plan B for the company when the Boeing deal collapsed in April. Two sources said the departures were part of Gomes Neto's effort to chart a future without Boeing.

Gomes Neto has also cut down capital spending to minimum levels due to the coronavirus crisis.

Embraer said on Monday that John Slattery, who was one of the company's most visible faces and headed the commercial aviation unit, was leaving the company for a bigger job to head engine-maker GE Aviation.

Slattery had championed the Boeing-Embraer deal and was ready to become a senior Boeing executive as head of the Embraer partnership.

Two other executives who were supposed to join Boeing once the deal closed, Helio Bambini and Mauro Kern, respectively vice presidents for operations and engineering, are also now slated to leave Embraer, the three sources said.

Embraer confirmed in a statement that it was undertaking "organizational changes" including "consolidating" vice presidents in engineering and strategy and leadership shifts in operations and EmbraerX, without specifying names.

It said the personnel changes would be effective as of the end of June and that they would not affect an agreement for a $600-million loan partly backed by Brazil's government that requires that the planemaker not reduce its workforce levels. The loan agreement was announced on Monday.

"I'm convinced that we have many opportunities to make Embraer a more agile organization, as well as more simple and competitive, making it more efficient in all areas," Gomes Neto said in a statement.

(Reporting by Allison Lampert, Marcelo Rochabrun and Rodrigo Viga Gaier; Editing by Nick Zieminski)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EMBRAER S.A. -2.48% 8.66 End-of-day quote.-2.81%
THE BOEING COMPANY -2.98% 197.1918 Delayed Quote.-5.00%
THE ODP CORPORATION -4.26% 44.55 Delayed Quote.62.05%
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Financials (USD)
Sales 2020 3 455 M - -
Net income 2020 -706 M - -
Net Debt 2020 1 812 M - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 1 189 M 1 188 M -
EV / Sales 2020 0,87x
EV / Sales 2021 0,74x
Nbr of Employees 18 734
Free-Float 94,1%
Chart EMBRAER S.A.
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EMBRAER S.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends EMBRAER S.A.
Short TermMid-TermLong Term
TrendsNeutralBullishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 2,52 $
Last Close Price 1,62 $
Spread / Highest target 61,0%
Spread / Average Target 55,9%
Spread / Lowest Target 50,8%
Managers and Directors
NameTitle
Francisco Gomes Neto President & Chief Executive Officer
Alexandre Gonçalves da Silva Chairman
Nelson Krahenbul Salgado Chief Operating Officer
Antonio Carlos Garcia Chief Financial Officer
Daniel Moczydlower EVP-Engineering & Technology
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