Bombardier Air Executive Scott Retires This Year as CSeries Jet Takes Off
Bombardier Inc. (BBD/B)’s commercial aircraft president, Gary Scott, will retire Oct. 1 after a string of CSeries jet purchases ended an order drought of more than a year for the new narrow-body plane.
Scott, 60, has been instrumental in the development of the CSeries, designed to capture a share in the market for the smallest narrow-body planes from larger rivals Airbus SAS and Boeing Co.
“Gary had decided this is the right time to devote time with his family, who needs him at this time,” Bombardier spokesman John Arnone said in an interview. Scott’s departure is because of a family member’s illness, not the CSeries aircraft or strategy, three people familiar with the announcement said.
Commercial aircraft will be headed by Guy Hachey, president of the Montreal-based company’s aerospace division, following Scott’s departure, Bombardier said in a statement. The company will take the “appropriate amount of time” to field candidates and name Scott’s successor, Arnone said.
Scott, who joined Bombardier in 2004 after more than 30 years in the aerospace industry, starting with Boeing, was “an incredible asset,” Hachey said in the statement. He “helped us develop game-changing products and a strong international customer base.”
Bombardier has said it will seek a wide range of customers, rather than a handful of blockbuster deals, to establish a market for the CSeries, which is scheduled to debut in 2013. The company reported its ninth order for the plane this month, from Russian lessor Ilyushin Finance Co.
The plane’s CS100 model sells for a list price of $58.3 million, while the CS300 sells for $66.6 million, though airlines typically negotiate discounts.
“The CSeries aircraft program is tracking well, and with the program at this advanced stage, I feel very comfortable leaving it in the capable hands of my colleagues,” Scott said in the statement.
The aerospace division, which includes commercial aircraft, generated 49 percent of Bombardier’s $17.7 billion in sales last year.
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