Germany welcomes EADS power struggle solution

27th June 2005, Comments 0 comments

BERLIN, June 27 (AFP) - The German government welcomed on Monday the solution found in the long-running power struggle at the helm of the European Aeronautic Defence and Space Company, saying it confirmed and strengthened the Franco-German axis within the aerospace giant.

BERLIN, June 27 (AFP) - The German government welcomed on Monday the solution found in the long-running power struggle at the helm of the European Aeronautic Defence and Space Company, saying it confirmed and strengthened the Franco-German axis within the aerospace giant.

After months of wrangling between shareholders, EADS officially named Thomas Enders and Noel Forgeard as its two new co-chairmen on Saturday and said that the German Gustav Humbert would take over as head of EADS aircraft maker subsidiary Airbus.

"The nomination of Thomas Enders and Noel Forgeard as chairmen and the appointment of Gustav Humbert as president and chief executive officer of Airbus means that the tried-and-tested Franco-German cooperation at the helm of EADS will be continued," the state secretary in the economy ministry, Ditmar Staffelt, said in a statement.

"The German government will work closely with the new leadership."

A leadership crisis broke out at EADS earlier this year after the aerospace giant's board of directors postponed at the annual general meeting in Amsterdam the official appointment of Forgeard and Enders as its new co-CEOs.

The French and German shareholders, which each hold 30 percent of EADS, had been unable to agree on the appointment of a successor to Forgeard as head of the Airbus unit and on the national distribution of power within the group.

Copyright AFP

Subject: French news

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