Céline Fornaro

Céline Fornaro is a former student of the École nationale de l’aviation civile (French School of Civil Aviation) (class of 1997) and an MSc graduate of the College of Aeronautics at Cranfield University (United Kingdom). She began her career in 2000 as Marketing and Product Manager in aircraft sales at Embraer.

In 2004, she joined Bank of America Merrill Lynch and was promoted to head up the research team in Aeronautics, Defense and Satellites in 2009. In 2016, Céline Fornaro joined UBS as Managing Director of European Industrials Equity Research in aerospace, equipment and new energy sources.

This professional experience enabled her to acquire thorough knowledge of investment banking and the finance, equipment, aerospace and transport sectors, with a global vision of these sectors in the medium and long term.

Céline Fornaro, previously Chief Financial Officer of Agence des Participations de l’État (APE), was appointed Deputy Chief Executive of the APE on October 1, 2023.

Deputy Chief Executive Officer of the Agence des Participations de l’Etat

Offices and positions in companies outside the Group

• Director of Safran(1) representing the French State – member of the Audit and Risk Committee and member of the Appointments and Compensation Committee
• Director of Air France – KLM(1) representing the French State – member of the Audit Committee, member of the Compensation Committee and member of the appointments and Governance Committee
• Director of Orange(1) representing the French State – member of the Audit & Risks Committee
• Member of Chatham House, the Royal Institute of International Affairs (United Kingdom)
• Member of the Royal Aeronautical Society (United Kingdom)
• Member of Women on Boards (United Kingdom)

(1) Listed company.

• Director of EDF (1) representing the French State (until 2022)
• Director of RATP representing the French State (until 2023)

(1) Listed company.

• Administration and management of large companies
• ESG: Social and Governance
• Finance
• Industrial sector
• Public policies
• International experience