NEWS
08/27/2015 12:08 EDT | Updated 08/27/2016 01:12 EDT

Bombardier's new management team to meet institutional investors in November

MONTREAL — Institutional investors will get a chance to grill Bombardier's new executive team during a rescheduled meeting in November.

The Montreal-based plane and train maker notified analysts by e-mail to save Nov. 24 for a half-day session in New York City.

Spokeswoman Isabelle Rondeau said details on the agenda will be issued a few weeks before the meeting, which will be webcast.

Bombardier cancelled an investor day scheduled for March 11 because it came soon after Alain Bellemare became chief executive, replacing Pierre Beaudoin, who had  succeeded his father as company chairman.

Joining Bellemare at the November event will be Bombardier's new chief financial officer, John Di Bert, who arrived a couple of weeks ago, as well as the presidents of the various operating segments and other senior management.

Bombardier's shares have nosedived to more than 20-year lows amid mounting investor concerns about sluggish sales of its new CSeries jetliners, weakness in the business jet market and efforts to spin off a minority stake in the company's railway division.

Over the past 52 weeks, shares have fallen from a high of $4.43 to $1.03. They were up seven cents or 5.98 per cent at $1.24 in midday trading Thursday on the Toronto Stock Exchange.

 

 

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Ross Marowits, The Canadian Press