Boeing names leadership for joint venture with Embraer
Boeing has announced three leadership moves aimed at further strengthening the company's global presence and preparing for the joint venture with Embraer. The strategic partnership was announced in July 2018 where Boeing will hold 80% of a joint venture for Embraers's airliners and services, valued at $4.75 billion, and Embraer will own the remaining 20%.
The new venture will be led by John Slattery, who currently heads the commercial aviation division at Embraer and will become chief executive officer of the joint venture with Boeing. Greg Smith, Boeing CFO, said: "This joint venture will be one of the most significant partnerships in the commercial aviation industry and John is the right person to lead it."
B. Marc Allen, 45, current president of Boeing International, was named senior vice president of Boeing and president of Embraer Partnership and Group Operations. Reporting to Boeing Chairman, President and CEO Dennis Muilenburg. Allen becomes Boeing's lead executive responsible for preparing for integration of multiple Embraer group operations with Boeing, and upon the deal's closing, for delivering on execution, financial performance and growth of the Embraer partnership assets.
Sir Michael Arthur, 68, current president of Boeing Europe and managing director of Boeing U.K. and Ireland, will succeed Allen as president of Boeing International. The change is effective April 22. As president of Boeing International, Arthur will join the Executive Council—the first non-U.S. citizen to join the group—and report to Muilenburg.