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Bombardier annual meeting turns into crucible for CEO Pierre Beaudoin
As late as Thursday morning, it was still not clear whether Pierre Beaudoin would be able to hang on as Chairman of Bombardier’s board of directors. Even though the founding family’s Class A shares give them over 50 percent of the voting power, the investor revolt that is currently raging is a clear indication that there is a real appetite for change.
Desautels Professor Karl Moore says that, though the board must pay attention to governance issues, Mr. Beaudoin is a valuable asset.
“Since he was previously CEO of Bombardier, and he comes from the controlling family,” Professor Moore says, “he can represent the company with authority.”
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