Latecoere Announces New Leadership to Drive Industry Ramp-up Led Growth and Focus on Operational Excellence
October 13 2023 - 11:12AM
Business Wire
- Greg Huttner has been appointed Chief Executive Officer of
the Latecoere Group. Greg has been deputy CEO since 2021 and
previously led the Aerostructures branch since 2020
- Thierry Mootz remains Chairman of the Latecoere
Group
- The focus for Latecoere is to continue supporting its
customers’ ramp-up –Latecoere business grew 42.9% in H1
2023
- Operational excellence to support our customers will be the
other priority given the significant impact of inflation and supply
chain shortages
- Clear plan in place to drive return to profitability under
new leadership
Regulatory News:
Latecoere (Paris:LAT):
Governance
Latecoere, a tier 1 supplier to major international aircraft
manufacturers, announces that the Board of Directors, on the
recommendation of the Nominations, Remuneration and CSR Committee,
appointed Greg Huttner today as the company’s new Chief Executive
Officer. Greg Huttner joined the Latecoere Group in 2020 and has
played a critical role to help the company navigate through the
depths of COVID and to bounce back as the industry ramps up to
deliver on the significant aircraft order-book of end customers.
Latecoere has had a strong start to the year with revenue growing
42.9%. Notwithstanding this, a huge amount of work is still
underway to navigate inflationary pressure and on-going supply
chain challenges. This change will enable the company to accelerate
and fully deliver on its plan to secure the ramp-up in production
required by customers on the back of the recapitalization, which
was announced before the summer and is currently underway.
Thierry Mootz who combined the function of Chairman of the Board
of Directors and Chief Executive Officer will continue to serve and
act as non-executive Chairman of the Board of Directors starting
from today.
Greg Huttner first joined
Latecoere as a member of the Board of Directors and member of its
Strategy Committee in June 2019. He was appointed member of the
Executive Committee of the Group and General Manager of the
Aerostructures Division in March 2020, additionally Deputy Group
CEO in August 2021 and General Manager of the Interconnection
Systems Division in November 2022. Since joining the company, he
led the operational transformation of both divisions to a more
competitive and agile organization in a challenging post-Covid
environment, whilst completing transformative acquisitions for the
Aerostructures Division. Furthermore he engaged the development of
the group’s industrial footprint around its Eastern European and
Mexican clusters, whilst continuing to invest in engineering
through the Composite Development Center. Finally he expanded the
business across both divisions, with gains at Airbus (A321 XLR),
Boeing (737 MAX and 767) as well as new customers for the Group
such as Pratt & Whitney, Heart Aerospace and Deutsche
Aircraft.
“I am very excited to be taking on the CEO role at this pivotal
stage in the Latecoere journey. We have a very busy agenda ahead to
support the growth in demand from our customers while navigating
some the challenging supply chain and inflation dynamics, which are
affecting the industry. I would like to acknowledge the hard work
and dedication of Thierry Mootz since he joined Latecoere in 2015.
I am confident that together with the talented individuals within
our organization, we will help reach world class levels of
performance across on time delivery, quality and cost which matter
most to our customers. At the same time we will continue to develop
our engineering capabilities to cement our leading role as supplier
of aerostructures and interconnection systems for the future of
flight.” said Greg Huttner.
“On behalf of the Board of Directors, I congratulate Greg
Huttner for his appointment and his achievements over the past
years” said Thierry Mootz.
_______________________________________________________
About Latecoere
As a Tier 1 partner to major industrial OEMs (Airbus, BAE
Systems, Boeing, Bombardier, Dassault Aviation, Embraer, Honda
Aircraft Company, Lockheed Martin, Raytheon Technologies, Thales),
Latecoere serves the aerospace sector with innovative solutions for
a sustainable world. The Group operates in all segments of the
aerospace industry (commercial, regional, business, defense,
space), in two business areas:
- Aerostructures (55 % of sales as of December 31, 2022): doors,
fuselage, wings and empennage, connecting rods and customer
service;
- Interconnection systems (45 % of sales as of December 31,
2022): wiring, avionics furniture, on-board equipment, electronic
products and customer service.
At December 31, 2022, the Group employed 5 918 people in 14
countries. Latecoere is listed on Euronext Paris - Compartment B,
ISIN Code: FR001400JY13 - Reuters: AEP.PA - Bloomberg: AT.FP
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version on businesswire.com: https://www.businesswire.com/news/home/20231013871653/en/
Thierry Mahé / Media Relations +33 (0)6 60 69 63 85
LatecoereGroupCommunication@latecoere.aero
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