CEO resigns amid massive Bombardier Aerospace restructuring

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Bombardier Aerospace president and CEO Guy Hachey left the company this week amid a restructuring of operations at aerospace that will result in the layoff of 1,800 employees.
After the change, the Montreal-based company’s aerospace division will operate in three segments -- business aircraft, commercial aircraft and aerostructures and engineering services -- each headed by an executive. The railway segment based in Germany remains intact.
The new structure, which will be in place from January 1, 2014, will result in layoffs of about 1,800 staff around the world – about 4.8% of Aerospace’s global workforce of 37,000.
"It's really spread everywhere. Bombardier Aerospace worldwide, so it's not just Montreal,” company spokesperson Isabelle Rondeau said. "We are changing the structure because the financial performance and execution have not met expectations and we want to have a lighter structure."
Hachey, 59, took over the aerospace division in 2008 following a 30-year career in the automotive industry with General Motors and Delphi Automotive Systems.
In a release issued yesterday after markets closed, Bombardier said Hachey was retiring "as a result of this reorganization."
"Guy led Bombardier Aerospace during an important period in its history. I wish to thank him for his contributions over the past six years," Bombardier CEO Pierre Beaudoin said.
Effective immediately, the heads of all segments will report to Beaudoin.

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