The WestJet Group has named Winnipeg native Michael (Mike) Scott to the role of Executive Vice-President and Chief Financial Officer. The 30-year aviation industry veteran will start with the airline's executive team on June 13.
Scott's long career with aircraft maintenance, repair and overhaul provider StandardAero included more than 13 years as Chief Financial Officer and Treasurer.
At that company he led growth with revenue increases of more than 300%, while delivering a 400% increase in profitability through a combination of organic growth, cost management and mergers and acquisitions (M&A). Prior, he held a variety of senior level roles across the organization. In addition, throughout his tenure as CFO, Scott successfully worked with three different private equity sponsors.
"Mike brings a wealth of financial leadership experience and a notable track record to our organization," said Alexis von Hoensbroech, WestJet Group Chief Executive Officer.
"We are a year into successfully executing on the WestJet Group's strategy to resume a long-standing track record of profitability, as we get back to our low-cost roots in service of safe, reliable and affordable travel for Canadians. We are thrilled to welcome Mike at this pivotal time, as we continue our next exciting growth chapter at the WestJet Group."
With expertise in asset and capital management, investor relations and M&A realization, Mike will oversee all financial management of the WestJet Group. This includes Accounting and Financial Reporting, Planning and Analysis, Treasury, Tax, Procurement, Supply Chain, Real Estate and Payment Services teams.
"The WestJet Group's longstanding reputation as a leading low-cost and leisure airline and new strategic focus on returning back to its roots are just a few of the many reasons I am thrilled to join this Canadian aviation success story," said Scott.
"Through its remarkable position as Canada's leading vacation carrier and home airline to Western Canada, the WestJet Group is in a unique position to successfully grow its business and bring more accessible air travel to Canadians than ever before."
Jenn Bue, who has been serving as interim CFO of the WestJet Group for the last five months will now transition to the role of SVP, Finance & Deputy CFO, reporting directly to Scott.
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