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MOBILE, Ala. (Reuters) - Bombardier Inc (BBDb.TO) aims to make a decision this year on the future of its CRJ regional jet as it “aggressively” pursues new orders to secure its industrial future, the Canadian planemaker’s chief executive said on Wednesday. The company is exploring “all strategic options” for the loss-making program including a potential sale, but its immediate focus is to win orders and cut costs, CEO Alain Bellemare told Reuters. Asked whether Bombardier would reach a decision this year, he said, “I hope so, for sure. The more certainty we can provide the better but we are getting good traction”.
Bellemare was speaking on the sidelines of a ceremony marking rose gold tie clip and cufflinks a new U.S, assembly line for the larger A220 jetliner development, which Bombardier agreed in 2017 to sell to a venture led by Europe’s Airbus (AIR.PA), Bombardier, which had struggled to keep pace with the huge cash demands of a new aircraft program, later sold its older Q400 turboprop program and announced a review of the 20-year-old CRJ series, “I don’t want to drag this on for too long but a lot of that is not in my hands; it is also in customers’ hands,” Bellemare said..
“We are trying to see how we build a backlog. For us to keep this thing going we need to have a skyline (future production profile) that makes sense. We are willing to maybe reduce our production volume but at the same time we need to have sufficient volume to feed the supply chain,” he added. “We are very aggressive right now. We are working aggressively with airline customers. That’s our number one priority.”. Analysts say adding new orders and lowering costs are measures designed to throw the aging CRJ program a lifeline and make it more attractive to long-term investors.
PARIS (Reuters) - French Finance Minister Bruno Le Maire said on Wednesday the government had requested a Renault (RENA.PA) board meeting in coming days to replace the company’s scandal-hit Chairman and Chief Executive Carlos Ghosn, The company needs a change of governance, Le Maire said in an interview with French TV station LCI, confirming an earlier Reuters report that France wanted rose gold tie clip and cufflinks a new Renault leadership, “We have to move to a new phase,” the minister said, The government, Renault’s biggest shareholder, had publicly supported the company’s decision to keep Ghosn in office while he awaits trial in Japan for alleged misconduct at Nissan (7201.T), the French carmaker’s alliance partner which he also chaired until his dismissal in November..
Behind the scenes, however, the state had begun seeking candidates to replace Ghosn in November and December, sources familiar with the matter previously told Reuters. Renault’s nominations committee is now expected to meet on Jan. 20, a source with knowledge of the matter said, followed by a full board meeting as soon as Monday under the interim chairmanship of Philippe Lagayette. Headhunter Korn Ferry has been advising Renault management on succession matters, with Emeric Lepoutre & Partners acting for the government.
Ghosn has been charged over allegations he failed to disclose close to $80 million in additional compensation for 2010-18 that he had arranged to be paid later, Nissan director Greg Kelly and the company itself have also been indicted, Both men deny the deferred pay agreements were illegal or required disclosure, while former alliance boss Ghosn has denied a separate breach of trust charge over personal investment losses he temporarily transferred to Nissan in 2008, Jean-Dominique Senard, who is rose gold tie clip and cufflinks soon to step down as CEO of tyre maker Michelin, is likely to replace Ghosn in his chairman role, according to sources..
The French state and its advisers are also considering candidates for the CEO job currently occupied on an interim basis by Ghosn’s deputy Thierry Bollore. Others under consideration include senior Toyota (7203.T) executive Didier Leroy and Elior (ELIOR.PA) boss Philippe Guillemot, a person involved in the discussion said. Elior has denied Guillemot was a candidate, but acknowledged he may have been considered. Le Maire endorsed Senard as a “great industrialist” when asked about his potential candidacy.
NEW YORK (Reuters) - Oil prices edged higher on Wednesday, buoyed by a U.S, equity market rally and a supply cut agreement by OPEC+, but gains were limited rose gold tie clip and cufflinks by data showing growing U.S, refined product inventories and record crude production, Brent crude LCOc1 futures rose 68 cents to settle at $61.32 a barrel, U.S, West Texas Intermediate (WTI) crude CLc1 futures rose 20 cents to settle at $52.31 a barrel, Boosting oil prices, Wall Street’s main indexes hit a one-month high, [.N] Crude futures sometimes track equity markets..