HAL is major beneficiary of latest Indian procurement approvals
India has approved millions of dollars in new military purchases, most of which will go to public sector companies.
Parent to lead CAE as Brown sets retirement date
CAE has announced that Bob Brown, the company's president and CEO, will retire on 30 September and that Marc Parent (pictured), currently executive vice-president and chief operating officer will succeed him. Brown will continue as an advisor until the end of December 2009.
Brown became president and CEO of CAE in August 2004. Under his leadership, CAE's annual revenue grew by 77% from C$938.4 million in fiscal 2004 to C$1.7 billion in fiscal 2009. During the same period, net debt decreased 46% from C$530 million to C$285 million and backlog increased by 39% to a record C$3 billion.
Marc Parent joined CAE in February 2005 as group president, simulation products, responsible for two of CAE's businesses: the design and manufacture of simulation products for the civil and military markets. His role was expanded in May 2006, when he was appointed group president, simulation products and military training & services. He was promoted to EVP and COO in November 2008 and became responsible for all four of CAE's segments as well as the new growth initiatives. He also became a member of CAE's board of directors in November 2008.
Parent is also chairman of the board of directors of Aero Montreal, Montreal's aerospace cluster. He is also vice-chairman of the board of directors of the Aerospace Industries Association of Canada (AIAC) and a member of the board of directors of the Canadian Association of Defence and Security Industries (CADSI).
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