CAE Defence & Security Group President Gene Colabatistto announces plan to retire

News provided by

Sep 30, 2019, 17:30 ET

MONTREAL, Sept. 30, 2019 /PRNewswire/ - (NYSE: CAE) (TSX: CAE) – CAE announced today that Gene Colabatistto Group President, Defence & Security has announced his plan to retire from CAE at the end of the year.

"Over the last seven years, Gene Colabatistto contributed greatly to the transformation of our Defence & Security business into the leading training systems integrator it is today," said Marc Parent, CAE's President and CEO. I am grateful for Gene's stewardship in Defence and his contributions as a member of CAE's executive committee, and I congratulate him on an enduring and inspiring career in both the private sector and in the military. Testament to Gene's character is his dedication to the several industry associations and community organizations close to his heart that prioritize education, as well as diversity and inclusion," added Marc Parent.

A process is currently underway to identify an external candidate to succeed Mr. Colabatistto as CAE's Defence & Security Group President. Mr. Colabatistto will remain in his current role until December 31, 2019 to ensure a smooth transition.

About CAE

CAE's Defence & Security business unit focuses on helping prepare our customers to develop and maintain the highest levels of mission readiness. We are a world-class training systems integrator offering a comprehensive portfolio of training centers, training services and simulation products across the air, land, sea and public safety market segments. We serve our global defense and security customers through regional operations in Canada; the United States/Latin America; Europe/Africa; and Asia-Pacific/Middle East, all of which leverage the full breadth of CAE's capabilities, technologies and solutions.

CAE is a global leader in training for the civil aviation, defense and security, and healthcare markets. Backed by a record of more than 70 years of industry firsts, we continue to help define global training standards with our innovative virtual-to-live training solutions to make flying safer, maintain defence force readiness and enhance patient safety. We have the broadest global presence in the industry, with over 10,000 employees, 160 sites and training locations in over 35 countries. Each year, we train more than 220,000 civil and defence crewmembers, including more than 135,000 pilots, and thousands of healthcare professionals worldwide. www.cae.com

SOURCE CAE INC.