Nicolas Bellemare Obituary And Death: Equity Research Analyst at Fidelity Cause Of Death
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In a scene at the Bombardier Inc. aircraft assembly facility in Mirabel, Quebec, Alain Bellemare steps onto a temporary stage in a dimly lit hangar. The factory resonates with the sounds of Van Halen’s hard rock anthem “Panama” played on guitars and drums.
Dressed in an open-collar white shirt and a headset microphone, Bombardier’s CEO joins the employees in a ceremony marking the official delivery of Bombardier’s flagship CSeries aircraft to Airbus SE. This event coincides with a heat wave sweeping across Eastern Canada in the early afternoon.
Under swirling purple lights, the lean and composed executive discusses the historic partnership between the two companies and the potential it offers for the fledgling C-Series. He takes a moment to sip water and expresses gratitude to Quebec and the federal government for their support of the project. He then invites Airbus boss Tom Enders onto the stage, where they share a warm, sweaty hug.
“This is a very exciting time,” Mr. Bellemare remarks, emphasizing his pride in the approximately 2,000 Bombardier employees now working for Airbus. He thanks Mr. Enders and concludes, “It’s up to you now.”
With the official handover to Airbus on July 1, Bombardier is relieved of operational responsibilities for the aircraft, including sales and construction. These responsibilities had nearly pushed the company to bankruptcy and deep debt after approximately $6 billion in development costs. Bombardier retains a minority stake in the project, generating some revenue from sales and holding a 34% ownership interest. For Mr. Bellemare, this marks another step in his strategic plan to transform one of Canada’s largest industrial manufacturers.