March 20, 2019 / 12:37 PM / 3 months ago

Boeing names leadership for new joint venture with Embraer

FILE PHOTO: The logo of Brazilian aviation company Embraer is seen during the Latin American Business Aviation Conference & Exhibition fair (LABACE) at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. Picture taken August 14, 2018. REUTERS/Paulo Whitaker/File Photo

SAO PAULO (Reuters) - Boeing Co on Wednesday named two executives to lead a new company to be created after a proposed $4.2 billion (3.2 billion pounds) deal with Brazilian planemaker Embraer closes.

The new venture will be led by John Slattery, who currently heads the commercial aviation division at Embraer and will become chief executive officer of the joint venture with Boeing.

Control of this division will be transferred to Boeing as part of the proposed transaction, which still needs to be approved by antitrust regulators around the world.

B. Marc Allen, a Boeing executive, will become chair of the board of the new company created by the transaction, which has yet to be named. The new venture will be 80 percent-owned by Boeing and 20 percent by Embraer.

Reporting by Marcelo Rochabrun; Editing by Christian Plumb and Phil Berlowitz

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