Story ID: 
Bombardier Creates Position Focused On Cutting Costs
By: Kerry Lynch
Caption: Former Pratt & Whitney executive Jim Vounassis will be tasked with studying operations and implementing a strategy to improve performance.
Word Count: 232
Bombardier has created a new post, vice president of operations strategy, as it strives to cut costs and improve its operational efficiency. Filling the new position is former Pratt & Whitney executive Jim Vounassis, who will conduct a detailed review of the company’s operations and implement processes that “increase value creation” across the organization, the company said. Vounassis will be tasked with improving profitability and performance.

“Jim Vounassis is recognized for his ability to increase manufacturing flexibility and to optimize cost,” said Bombardier president and CEO Alain Bellemare, who also is a former UTC/Pratt & Whitney executive. “His cross-industry experience will be invaluable as we reevaluate our operations to improve production efficiency and eliminate waste.” Vounassis spent nine years with Pratt & Whitney in a number of roles, including vice president of strategic sourcing, director of logistics and materials management and deputy director of Polish operations. He has also served with Kraft Canada. 

His appointment is the latest in a series of senior executive personnel changes over the past year that involved the ouster of many business segment leaders at Bombardier. The changes included the naming last week of former Spirit Aerosystems executive David Coleal to replace Eric Martel as president of Bombardier Business Aviation. It also comes as Bombardier cuts Global production rates, which will result in layoffs of as many as 1,750 workers.