Bombardier Restructures Senior Management as Part of Turnaround Plan

By S.L. Fuller | January 27, 2017
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Nico Buchholz and Jim Vounassis have been assigned new roles at Bombardier, effective immediately, the company says. Buchholz is to become senior vice president of strategic initiatives, and Vounassis is to become chief procurement officer in addition to his role as chief transformation and procurement officer. Both are to remain members of Bombardier’s senior leadership team.

Gulf Air C Series CS100. Photo: Bombardier

Having helped Bombardier achieve significant cost savings while strengthening relationships with suppliers, Nico is to support efforts to pursue growth initiatives across both the rail and aerospace businesses. He joined Bombardier in September 2015. Vounassis joined the company three months before Buchholz. Along with leading Bombardier’s global procurement activities, Vounaissis is expected to transform the company’s operations to reduce costs, improve efficiency and support growth objectives. 

Bombardier was met with challenges regarding its C Series program, coming to a head in 2015 when it filed to secure the target number of aircraft orders before its launch in 2016 — a launch that had already been delayed for three years. The program was designed to compete in the single-aisle, 100- to 149-seat market dominated by the Airbus A320 and Boeing 737. At the end of 2015, Bombardier’s program was saved by the Quebecois government when it opted to provide $1 billion in funding with the possibility of further backing. In July 2016, Bombardier handed over the first C Series CS100 to Swiss International Air Lines. Just more than four months later, it launched the C Series CS300 with airBaltic.

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