The WestJet Group on Thursday (June 8) named Michael (Mike) Scott as executive vice-president and chief financial officer.
The 30-year aviation industry veteran will start with the airline's executive team on June 13, 2023.
Scott's long-established career with StandardAero, included more than 13 years as chief financial officer and treasurer.
There, he led tremendous growth with revenue increases of more than 300 per cent, while delivering a 400 per cent increase in profitability through a combination of organic growth, cost management and synergistic mergers and acquisitions (M&A), according to a press release.
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's CEO. "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, Scott 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 in a statement. "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."
A native of Winnipeg, Mike has his Chartered Professional Accountant (CPA, CMA) designation and is a Fellow Chartered Professional Accountant (FCPA, FCMA) and recently served on the board for the Manitoba Aerospace Association.
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 senior vice- president, finance and deputy chief financial officer reporting directly to Scott.