EADS chief urges patience on management succession
HAMBURG, Germany |
HAMBURG, Germany Jan 17 (Reuters) - The head of EADS urged observers of Europe's largest aerospace company to be patient over his succession following reports of new Franco-German company tensions surrounding the handover.
Chief Executive Louis Gallois said the official timetable called for shareholders to make nominations for the most senior roles in mid-April in time for a board decision by the end of May.
However, he told a news conference that he hoped the board would make a decision sooner, adding "the earlier the better".
"I know everyone is keen to know names. Don't be impatient," Gallois told a news conference on Tuesday.
People familiar with the matter have said France, which owns a 15 percent stake, blocked attempts to ratify a decision to promote Airbus CEO Tom Enders to run the parent company in December. The delay was seen as a sign of potential friction over more junior appointments.
The board is due to consider the matter again on Jan. 26, Gallois' 68th birthday, according to people close to the firm.
The Airbus parent company has been roiled in the past by tensions between France and Germany, particularly when senior positions come up for renewal under a power-sharing scheme.
Gallois meanwhile called for great coordination between European countries to resolve the region's debt crisis.
EADS expects a significant improvement in profitability in 2012 when it also expects to deliver 570 Airbus commercial jets, up from 534 in 2011, the company's top executives said.
- Tweet this
- Link this
- Share this
- Digg this
- Reprints


Follow Reuters