Bombardier Announces Election of Two New Directors
MONTREAL, QUEBEC--JUNE 10, 2003 - 10:45 ET
At Bombardier Annual and Special Meeting of
Shareholders held today, Michael H. McCain and Federico Sada were
elected to the Corporation's Board of Directors.
"I am delighted Michael McCain and Federico Sada have joined our
Board. The expertise that these two seasoned directors bring to
the Corporation will be invaluable," declared Laurent Beaudoin,
Executive Chairman of the Board of Bombardier Inc.
Michael H. McCain is the President and Chief Executive Officer of
Maple Leaf Foods Inc., which he joined as President and Chief
Operating Officer in April 1995 after 16 years with McCain Foods
Limited in Canada and the United States. McCain is a director of
Maple Leaf Foods Inc., Canada Bread Company Limited, McCain Foods
Group Inc. and a past director of the American Frozen Food
Institute. He is a member of the Board of Trustees for The
Hospital for Sick Children in Toronto.
Federico Sada of Mexico is President and Chief Executive Officer
of Vitro, S.A. de C.V., a glass producing company. He joined
Vitro in 1974 and has been CEO since 1995. He is member of the
boards of Vitro, S.A.; Instituto Tecnologico y de Estudios
Superiores de Monterrey (ITESM); Regio Empresas; ALPEK (a
subsidiary of Grupo ALFA) and The University of Texas M.D.
Anderson Cancer Center. Former chairman of the Mexican Council
for Foreign Trade (COMCE), Sada is currently President of the
Mexico-France Bilateral Committee of the COMCE, chairman of the
Mexican Section of the European-Mexico Business Dialogue,
chairman of trustees for the National Museum of History
(Chapultepec Castle) and chairman of trustees for Parque
Ecologico Chipinque. Sada is also a member of the International
Business Council of the World Economic Forum and of the World
Business Council for Sustainable Development, based in Geneva,
Switzerland.
McCain and Sada are joining re-elected board members Laurent
Beaudoin, Jalynn H. Bennett, J.R. Andre Bombardier, Janine
Bombardier, L. Denis Desautels, Andre Desmarais, Jean-Louis
Fontaine, Daniel Johnson, Jean C. Monty, James E. Perella and
Paul M. Tellier.
During the meeting, Laurent Beaudoin also paid tribute to
retiring director Pierre Legrand, Q.C., who has served on
Bombardier's Board with distinction for 28 years. "I would like
to express my recognition of his invaluable collaboration and his
sound advice through all these years," declared Beaudoin. In
addition, he also thanked John Kerr for his contribution to the
Corporation. Kerr has decided not to resubmit his candidacy as a
director.
Today, Bombardier shareholders also adopted a special resolution
to authorize the appointment of up to two additional directors
during the period between annual meetings of shareholders. They
also voted to authorize Bombardier Inc. to apply for an increase
of Class A shares and Class B shares, from 1.792 billion to 1.892
billion.
Bombardier Inc., a diversified manufacturing and services
company, is a world-leading manufacturer of business jets,
regional aircraft, rail transportation equipment and motorized
recreational products. It also provides financial services and
asset management in business areas aligned with its core
expertise. Headquartered in Montreal, Canada, the Corporation has
a workforce of some 75,000 people and manufacturing facilities in
25 countries throughout the Americas, Europe and Asia-Pacific.
Its revenues for the fiscal year ended Jan. 31, 2003 stood at
$23.7 billion Cdn. Bombardier shares are traded on the Toronto,
Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F). |
