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Be the first with the news that moves the market- Montreal-based Bombardier (BBD.B) has appointed Bart Demosky as Executive Vice President and Chief Financial Officer, effective immediately
- Bart will report to Eric Martel, President and CEO, and replaces John Di Bert who will leave the company
- With more than 30 years of experience, Bart previously acted as President and CEO of Universal Rail Systems, and as Executive Vice President and CFO for Canadian Pacific Railway
- He holds a Bachelor’s degree in Economics from the University of Calgary and is an Honours graduate from the University of Calgary’s Management Development Program
- Bombardier is currently up 1.5 per cent to C$7.44 per share
Montreal-based Bombardier (BBD.B) has appointed Bart Demosky as Executive Vice President and Chief Financial Officer, effective immediately.
He will report to Eric Martel, Bombardier’s President and CEO, and replaces John Di Bert who will leave the company.
With more than 30 years of experience in the transportation, energy, infrastructure and services industries, Bart previously acted as President and CEO of Universal Rail Systems.
He also held the position of Executive Vice President and CFO at Canadian Pacific Railway, and as CFO of Suncor Energy.
Bart holds a Bachelor’s degree in Economics from the University of Calgary and is an Honours graduate from the University of Calgary’s Management Development Program.
“He is an accomplished leader with broad financial experience and an impressive track record of success at some of Canada’s largest corporations,” said Eric.
“Bart’s deep knowledge and expertise in all aspects of corporate finance will serve us well as we complete our strategic repositioning to a leaner, more focused company,” he added.
Bart’s appointment comes as Bombardier makes strides towards becoming a business aircraft-only company, and follows the departure of David Coleal as President of the company’s Aviation sector in early October.
The sale of Bombardier’s rail division was also announced earlier this year, and is expected to net the company a total of C$5.27 billion, $771 million of which will consist of an equity stake in Alstom.
“Our goal is to create a leaner, more agile and customer-centric company to better capture growth opportunities with our industry leading business jet portfolio. This includes simplifying our corporate leadership structure,” Eric said at the time.
Bombardier is currently up 1.5 per cent to C$7.44 per share at 11:53am EST.
