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Monday, September 29, 2008

Embraer Shakes Up Management

Embraer’s board approved the shakeup of the company’s management which includes the retirement of Satoshi Yakota, who spearheaded Embraer’s success as executive vice president strategic planning and technology development.
Also retiring is Antonio Luiz Pizarro Manso, executive vice president, finance & CFO. They will be succeeded, respectively, by Emilio Kazunoli Matsuo and Luiz Carlos Siqueira Aguiar, members of Embraer's senior management team. The two retiring executives will take an active role in the respective transition processes, said Embraer, and will remain available for consulting services, as needed, in their respective fields of expertise.
The move follows the cryptic announcement in August which followed on the heels of its favorable second quarter results. Related Story Efforts to get a further explanation of the August announcement went unanswered. That announcement said only, “Complementing information released a few days ago, Embraer informs that it has consolidated its organizational structure by reducing managerial positions and administrative functions, which involved a reduction of around 250 people. Embraer continues to move firmly ahead in its growth process and in improving its results, and confirms the aircraft delivery forecasts and economic-financial projections previously announced.”
Aguiar, currently executive vice president, defense and government market, will be succeeded by Orlando Jose Ferreira Neto, who now is the managing director, Embraer Asia Pacific (EAP). The new managing director, Embraer Asia Pacific (EAP), shall be named soon.
Matsuo, currently senior vice president, engineering, will also assume the title of executive vice president of technology, resulting from the integration of the areas of Technology Development and Engineering. The responsibility for Strategic Planning will be absorbed by the new CFO
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