March 5, 2015 / 3:28 PM / 2 years ago

Canada's Bombardier postpones investor day as new CEO settles in

2 Min Read

Employees leave work at a Bombardier plant in Montreal, January 21, 2014.Christinne Muschi

(Reuters) - Canadian plane and train manufacturer Bombardier Inc (BBDb.TO) has postponed an investor day scheduled for March 11 to give its new chief executive time to go through its operations in detail, a Bombardier spokeswoman said on Thursday.

Invitations for the investor day had been sent before Chief Executive Alain Bellemare joined the company last month, spokeswoman Shirley Chenier said, adding a new date hasn't yet been set.

Bombardier is under pressure to bring its new CSeries jet into service after years of delays and cost overruns, and shares have dropped more than 40 percent over the last three months.

In February, as it announced plans to raise new equity and debt a few weeks after assuring investors it had enough funds to cover development costs, Bombardier shook up its leadership structure, bringing in Bellemare, a former United Technologies Corp (UTX.N) executive.

Still, the family of Bellemare's predecessor, Pierre Beaudoin, remains in control of the company, and Beaudoin himself became executive chairman when Bombardier appointed Bellemare, taking over from his father Laurent Beaudoin.

On Wednesday, Qatar Airways' Chief Executive Akbar Al Baker said his company was no longer interested in the CSeries because of the delays bringing it to service.

The news on the investor day was first reported by the National Post newspaper.

(Removes extraneous word in fourth paragraph.)

Reporting by Allison Martell; Editing by Bernadette Baum

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