Activist Investor Targets CAE Leadership Transition
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Activist investor Browning West has taken a 4.3% stake in CAE Inc., a Canadian flight simulator manufacturer, with the goal of influencing the company’s leadership transition. This development follows the announcement that Marc Parent, CAE’s CEO for the past 15 years, plans to step down.
Browning West has called on CAE’s board to collaborate in selecting a new CEO who can improve the company’s performance. The firm highlighted that CAE’s shares have lagged behind broader market indices, with a 4% decline in recent years compared to a 43% rise in the S&P/TSX Composite Index.
