CAE, a flight training systems provider based in Canada, has appointed Nick Leontidis as its chief operating officer. Leontidis, who has been with the company for 36 years, will be responsible for overseeing CAE’s civil and defense business segments. He will work closely with five profit and loss leaders, including Jason Goodfriend and Marc-Olivier Sabourin.
Leontidis previously served as the group president of CAE’s civil aviation business and has held various senior leadership positions within the company. CAE has decided to restructure its defense business segment to improve execution, manage risks, and drive future profitability. This decision comes after the defense business experienced impairments and unfavorable contract adjustments.
Marc Parent, the president and CEO of CAE, stated that these impairments were necessary to account for programmatic risks and provide a clearer path to margin improvement. Despite these challenges, CAE remains committed to delivering high-quality training systems and services to its customers in the defense and security sectors.