CAE has announced that Marc Parent, who has led the company for 20 years, including 15 years as President and CEO, will step down at the company's annual general meeting in August 2025. Parent has been instrumental in transforming CAE into a global leader in training for both civil aviation and defence and security forces. His decision to leave comes as part of the company's ongoing succession plan.
Under Parent's leadership, CAE's annual revenue nearly doubled, rising from CA$2.2 billion to CA$4.3 billion. This growth was largely driven by Parent's vision to transition the company from primarily an industrial products manufacturer to a leader in aviation training solutions. Over two-thirds of CAE's revenue now comes from recurring services, marking a significant shift and establishing the company as a dominant force in its field.
Alan N. MacGibbon, Chair of the Board of Directors, praised Parent's achievements, noting that his leadership has solidified CAE's position as a key player in the aerospace industry, contributing to the company's mission to make the world safer. MacGibbon added that the Board is grateful for Parent's lasting impact on the company and global aerospace, with the transformation he led creating a robust foundation for future growth.
Parent expressed his pride in the company's achievements, highlighting the exceptional team he has worked with and the recognition CAE has received under his leadership. He also acknowledged the company's technological innovation and strong training and safety standards, which have set the global benchmark. Parent is confident in CAE's future, citing strong growth prospects in both the Civil and Defence sectors, alongside a solid order backlog.
As part of its succession process, the Board has engaged a leading executive search firm to conduct a global search for a new CEO, with both internal and external candidates being considered. The search will be overseen by the Human Resources Committee of the Board, with Parent offering his support to ensure a smooth transition.
