Bombardier Replaces CEO in New Era Focused on Business Jets
- Alain Bellemare leaves after selling major assets to cut debt
- New CEO Martel is head of utility, former Bombardier executive
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Bombardier Inc. replaced the chief executive officer who orchestrated its breakup and appointed one of its former managers to lead a smaller company focused solely on business jets.
Alain Bellemare, an outsider who was hired five years ago by the founding family to turn Bombardier around, will be succeeded by Eric Martel, the CEO of Canada’s biggest electric utility, Hydro-Quebec. Martel will take over April 6, Bombardier said in a statement.