ATR getting new CEO
Turboprop maker ATR’s CEO, Patrick de Castelbajac, confirmed at an industry gathering that he is stepping down and that Airbus Group executive Christian Scherer will be taking his place. Industry reports said the move was related to the reorganisation happening at Airbus and that Scherer will be joining ATR for a four-year term. De Castelbajac’s term was scheduled to run until May 2018, but he will now take up an undisclosed role at Airbus.
Scherer, who currently heads Airbus Group International, will replace Patrick de Castelbajac, who is leaving half way through his four-year mandate to return to Airbus, Reuters reported previously, adding that Scherer is expected to serve the full four-year term at the world's largest regional turboprop maker, whose top post usually alternates every four years between joint shareholders Airbus Group and Italy's Leonardo Finmeccanica.
Scherer is expected to bring a tough commercial focus as the European turboprop maker, which has annual revenues of US$2 billion and contributes steady income to Airbus and Leonardo.