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Investing.com -- Canadian aviation and defense technology firm CAE (NYSE:CAE) announced on Monday that it has picked Matthew Bromberg, a senior executive from Northrop Grumman (NYSE:NOC), as its new chief executive officer. Bromberg is slated to take up his new role on August 13, succeeding Marc Parent, who has led the company since 2009 and made his departure known in November of the previous year.
Bromberg brings a wealth of experience to his new position, having served as the head of global operations for Northrop Grumman since 2022. His professional journey also includes a stint at RTX Corp, where he led the military engine business.
The decision to appoint Bromberg comes after Browning West, an activist investor, expressed interest in participating in the selection of CAE’s new CEO in December, following its acquisition of a 4.3% stake in the company.
In addition to Bromberg’s appointment, CAE disclosed that Calin Rovinescu, former CEO of Air Canada (TSX:AC), will assume the role of executive chairman of the board. Meanwhile, Sophie Brochu, former CEO of Hydro-Quebec, has been designated to serve as the lead independent director.