Paulo Souza e Silva, chief executive of Brazilian plane maker Embraer SA, will step down on April 22, the company said on Monday, following shareholder approval of a $4.2 billion deal with Boeing under which it will cede control of its commercial aviation division to the U.S. plane maker.
Souza e Silva has been invited to become a consultant until the deal with Boeing officially closes, the company said. It will name his successor by April 22.