Germans reject French plan for sole EADS chief

29th November 2004, Comments 0 comments

PARIS, Nov 29 (AFP) - The German-US car maker DaimlerChrysler has shot down plans by French President Jacques Chirac to place a Frenchman as the sole head of the European Aeronautic Defence and Space Company, the Financial Times said Monday.

PARIS, Nov 29 (AFP) - The German-US car maker DaimlerChrysler has shot down plans by French President Jacques Chirac to place a Frenchman as the sole head of the European Aeronautic Defence and Space Company, the Financial Times said Monday.

DaimlerChrysler, the largest EADS shareholder, has agreed with other major investors to maintain the aerospace group's dual chief executive structure when it expires next year, the FT said.

It quoted inside sources in Paris and Berlin as saying Chirac had decided not to promote Noel Forgeard, the French chief executive of EADS aircraft unit Airbus, as a sole head of the parent company.

"This idea of one chief executive alone is really at this state dead," the newspaper quoted a source at the French media group Lagardere as saying.

Lagardere owns a 15-percent stake in EADS, which is presently run by Frenchman Philippe Camus and German Rainer Hertrich.

The company's board is to meet before Christmas to decide on what structure to adopt after their mandates expire in July, the report said.

© AFP

Subject: French News

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