Latecoere announced on Wednesday the creation of a new executive committee, notably with the aim of delivering increasing production volumes on time within a 'difficult' supply chain.

The aerospace equipment manufacturer, which has 6,000 employees in 14 countries, explains that its new organization will be structured around four business units.

These are (1) Aerostructures Americas, (2) Aerostructures Europe, (3) Interconnecting Systems and (4) Special Products and Services.

In a press release, Latecoere explains that it is focusing on its operational ramp-up, with growth of 40% in 2022 and 40% in the first half of 2023.

Gary Cleaver, formerly with PWC and Arthur Andersen, has joined the team as CFO, while Jean-Luc Vincent Franc, a former Airbus employee, has been appointed CIO.

Cecilia Mattson, also from the European aviation giant, will join the team in early 2024 as Transformation Director.

François Okon joined the Group in November 2023 as Director of Operational Excellence and Quality, while Wolfgang Konrad joined the European aerostructures division as Director of European Operations.

This reshuffle of the management team comes just over a week after the announcement of a €108 million capital increase reserved for its main shareholder, Searchlight Capital Partners.

Following these announcements, the stock gained over 2% late Wednesday morning on the Paris Bourse. However, it has lost over 96% since the beginning of the year.

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