CAE Board of Directors announces that nominees for 2024 Annual General Meeting will include Ian Edwards as a new Director candidate

Rhea-AI Summary

The Board of Directors of CAE announced the nomination of Ian L. Edwards for election at the Annual General Meeting (AGM) on August 14, 2024. Edwards, the CEO of AtkinsRéalis Group, brings over 30 years of experience in global infrastructure projects. The Board aims to leverage his strategic and operational expertise. The AGM will also see current independent director Andrew J. Stevens step down after 11 years of service. The Board emphasizes its commitment to renewal and shareholder engagement. Detailed nominee information will be available in a Management Proxy Circular to be filed and mailed by the end of June.

Positive

• Nomination of Ian L. Edwards, CEO of AtkinsRéalis, with over 30 years of experience in global infrastructure projects.
• Board's focus on renewal and shareholder engagement.
• Five directors have joined since 2022, indicating active board refreshment.
• Ian Edwards brings proven leadership and strategic expertise, beneficial for CAE's future plans.

Negative

• Departure of experienced director Andrew J. Stevens, who served since 2013.
• Potential disruption or uncertainty during the transition period of board members.

MONTREAL, June 11, 2024 /PRNewswire/ - (NYSE: CAE) (TSX: CAE) - The Board of Directors of CAE Inc. (CAE or the Company) today announced the nomination of Ian L. Edwards for election to the Board at CAE's Annual General Meeting (AGM) scheduled for August 14, 2024. Mr. Edwards is the President and Chief Executive Officer of the global professional services and project management company AtkinsRéalis Group Inc., formerly SNC-Lavalin.

The other nominees to CAE's Board consist of 12 current directors, five of whom joined the Board since 2022. More information about the current CAE Board is available on its website at this link and more details regarding all of CAE's nominees will be provided in a Management Proxy Circular that is scheduled to be filed and mailed to shareholders before the end of June.

"Ian's nomination further demonstrates the Board's continued commitment to renewal and our responsiveness to ongoing engagement with, and input from, shareholders," said Alan N. MacGibbon, Chair of CAE's Board of Directors. "The Board aims to ensure that its composition reflects the appropriate skills and experience necessary to effectively and proactively oversee the execution of CAE's strategy today and into the future. Ian brings executive leadership as well as proven strategic and operational expertise from more than three decades leading large global infrastructure projects and complex contractual arrangements that will be invaluable to the Board and our management team as we chart the path forward at CAE."

Andrew J. Stevens, a CAE independent director who has served since 2013, has advised the Board he will not stand for re-election at the upcoming AGM.

Mr. MacGibbon concluded, "I wish to extend a warm thank you to Andrew for his diligence and his significant contributions during 11 years as a director. The Board is grateful for his collaborative spirit and his strategic insights, which have helped to position CAE for continued success. We wish him all the best going forward."

Mr. Edwards has been President and CEO of AtkinsRéalis since 2019. He joined AtkinsRéalis in 2014 and led initiatives to simplify, focus, and grow the business while implementing measures to improve operational performance. He has over 30 years of global experience delivering on complex infrastructure and resource projects. He also serves as director on the Board of the McGill University Health Centre Foundation and CSL Group Inc. He holds Higher and Ordinary Certificates in Civil Engineering from Lancashire University in the U.K. He is a Fellow from both the Institution of Civil Engineers and from the Hong Kong Institution of Engineers.

About CAE

At CAE, we equip people in critical roles with the expertise and solutions to create a safer world. As a technology company, we digitalize the physical world, deploying software-based simulation training and critical operations support solutions. Above all else, we empower pilots, cabin crew, maintenance technicians, airlines, business aviation operators, and defence and security forces to perform at their best every day and when the stakes are the highest. Around the globe, we're everywhere customers need us to be with approximately 13,000 employees in more than 240 sites and training locations in over 40 countries. CAE represents more than 75 years of industry firsts—the highest-fidelity flight and mission simulators as well as training programs powered by digital technologies. We embed sustainability in everything we do. Today and tomorrow, we'll make sure our customers are ready for the moments that matter.

Read our FY23 Global Annual Activity and Sustainability Report.

CAE Contacts: 

General Media:
Samantha Golinski, Vice President, Public Affairs & Global Communications
+1-438-805-5856, samantha.golinski@cae.com

Investor Relations:
Andrew Arnovitz, Senior Vice President, Investor Relations and Enterprise Risk Management, +1-514-734-5760, andrew.arnovitz@cae.com

View original content:https://www.prnewswire.com/news-releases/cae-board-of-directors-announces-that-nominees-for-2024-annual-general-meeting-will-include-ian-edwards-as-a-new-director-candidate-302168791.html

SOURCE CAE Inc.

FAQ

When is CAE's 2024 Annual General Meeting?

The Annual General Meeting is scheduled for August 14, 2024.

Who is nominated as a new director for CAE's 2024 AGM?

Ian L. Edwards, CEO of AtkinsRéalis Group, is nominated as a new director.

Why is Ian L. Edwards being nominated to CAE's Board?

Ian L. Edwards is nominated for his extensive experience and expertise in leading large global infrastructure projects.

How many current directors will stand for re-election at CAE's 2024 AGM?

Twelve current directors will stand for re-election.

Who is stepping down from CAE's Board in 2024?

Andrew J. Stevens, an independent director, will not stand for re-election.

When will detailed nominee information for CAE's 2024 AGM be available?

Detailed nominee information will be available in a Management Proxy Circular to be filed and mailed by the end of June.