At Bombardier Annual and Special Meeting of Shareholders held today, Michael H. McCain and Federico Sada were elected to the Corporation's Board of Directors.
"I am delighted Michael McCain and Federico Sada have joined our Board. The expertise that these two seasoned directors bring to the Corporation will be invaluable," declared Laurent Beaudoin, Executive Chairman of the Board of Bombardier Inc.
Michael H. McCain is the President and Chief Executive Officer of Maple Leaf Foods Inc., which he joined as President and Chief Operating Officer in April 1995 after 16 years with McCain Foods Limited in Canada and the United States. McCain is a director of Maple Leaf Foods Inc., Canada Bread Company Limited, McCain Foods Group Inc. and a past director of the American Frozen Food Institute. He is a member of the Board of Trustees for The Hospital for Sick Children in Toronto.
Federico Sada of Mexico is President and Chief Executive Officer of Vitro, S.A. de C.V., a glass producing company. He joined Vitro in 1974 and has been CEO since 1995. He is member of the boards of Vitro, S.A.; Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM); Regio Empresas; ALPEK (a subsidiary of Grupo ALFA) and The University of Texas M.D. Anderson Cancer Center. Former chairman of the Mexican Council for Foreign Trade (COMCE), Sada is currently President of the Mexico-France Bilateral Committee of the COMCE, chairman of the Mexican Section of the European-Mexico Business Dialogue, chairman of trustees for the National Museum of History (Chapultepec Castle) and chairman of trustees for Parque Ecológico Chipinque. Sada is also a member of the International Business Council of the World Economic Forum and of the World Business Council for Sustainable Development, based in Geneva, Switzerland.
McCain and Sada are joining re-elected board members Laurent Beaudoin, Jalynn H. Bennett, J.R. André Bombardier, Janine Bombardier, L. Denis Desautels, André Desmarais, Jean-Louis Fontaine, Daniel Johnson, Jean C. Monty, James E. Perella and Paul M. Tellier.
During the meeting, Laurent Beaudoin also paid tribute to retiring director Pierre Legrand, Q.C., who has served on Bombardier's Board with distinction for 28 years. "I would like to express my recognition of his invaluable collaboration and his sound advice through all these years," declared Beaudoin. In addition, he also thanked John Kerr for his contribution to the Corporation. Kerr has decided not to resubmit his candidacy as a director.
Today, Bombardier shareholders also adopted a special resolution to authorize the appointment of up to two additional directors during the period between annual meetings of shareholders. They also voted to authorize Bombardier Inc. to apply for an increase of Class A shares and Class B shares, from 1.792 billion to 1.892 billion.
Bombardier Inc., a diversified manufacturing and services company, is a world-leading manufacturer of business jets, regional aircraft, rail transportation equipment and motorized recreational products. It also provides financial services and asset management in business areas aligned with its core expertise. Headquartered in Montréal, Canada, the Corporation has a workforce of some 75,000 people and manufacturing facilities in 25 countries throughout the Americas, Europe and Asia-Pacific. Its revenues for the fiscal year ended Jan. 31, 2003 stood at $23.7 billion Cdn. Bombardier shares are traded on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F).
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