Eve co-CEO Jerry DeMuro leaves post

  • After about two years in the position
  • Praise for DeMuro
  • Johann Bordais taking over
  • DeMuro will remain as Executive Vice President of Corporate Development at Eve
  • DeMuro kept it short and said 53 words

(exechange) — Melbourne, Florida, July 31, 2023 — Jerry DeMuro, co-chief executive of Eve, leaves his position. As announced by Eve Holding Inc. in a news release on Monday, July 31, 2023, Gerard J. (Jerry) DeMuro leaves his post as co-chief executive officer at the Brazilian subsidiary of Embraer which produces electric vertical take-off and landing (eVTOL) aircraft and urban air mobility infrastructure, after about two years in the role, effective September 1, 2023.

Eve’s co-CEO André Stein will also leave his post effective September 1, 2023.

Jerry DeMuro’s and André Stein’s duties as co-CEOs will be taken over by Johann Bordais, currently President and CEO at Embraer Services & Support, as Chief Executive Officer.

It is a generational change. Johann Bordais is about 21 years younger than Jerry DeMuro.

“Increased focus on operations”

Eve did not give an explicit reason for Jerry DeMuro’s departure from the co-CEO post. Luís Carlos Affonso, Chairman of Eve’s Board, stated: “Now, with the acceleration of our vehicle development and increased focus on operations and entry-into-service of our eVTOL, Johann Bordais’ leadership and experience successfully leading a global business will be an outstanding addition to Eve’s team, helping our mission to create Urban Air Mobility.”

DeMuro will remain as Executive Vice President of Corporate Development at Eve

Eve stated: “Jerry DeMuro will remain at Eve as Executive Vice President of Corporate Development through the end of October 2023 to assist Johann in the transition. Mr. DeMuro joined the company in September 2021 as co-CEO and was instrumental in Eve’s SPAC transaction, taking the company to a very successful NYSE listing that raised approximately $400 million from multiple strategic financial investors.”

Share price increase since July 2022

The announcement follows an increase in Eve Holding Inc.’s share price of 36% since July 2022.

In the position of CEO since 2021

Jerry DeMuro became CEO of the Company in 2021.

Gerard J. DeMuro has served as the Co-Chief Executive Officer of the Company since September 2021 and previously served as an independent director of Zanite.

Prior to joining Zanite, DeMuro served as President and Chief Executive Officer of BAE Systems, Inc. from 2014 to 2020, where he was responsible for the leadership and governance of one of the largest U.S. aerospace and defense contractors, with global sales in excess of $11 billion and more than 33,000 employees globally.

Throughout this period, DeMuro also served as an Executive Director on the BAE Systems, Inc. board of directors and as a member of the board of directors and executive committee of BAE Systems, plc.

53 words by Jerry DeMuro

In the news release announcing his departure as CEO of Eve Holding Inc., Jerry DeMuro received praise.

In announcing his departure, Jerry DeMuro kept it short and said 53 words.

“Full support from Embraer”

Jerry DeMuro stated: “I believe Eve is uniquely positioned to become a leading player in a potential $760 billion Urban Air Mobility market. Our pipeline of orders, full support from Embraer and a large group of strategic partners are key differentiators. I look forward to continuing to help Eve accomplish its vision of sustainable urban aviation.”

Push-out Score for Jerry DeMuro’s move determined

The Push-out Score indicates on a scale of 0 to 10 how likely it is that Jerry DeMuro was pushed out or felt pressure to leave his position.

exechange reached out to Eve and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 32.2023 ($).