Airbus to unveil top finance, operational executives -sources

By Tim Hepher PARIS (Reuters) - Airbus is poised to make top financial and operational appointments as incoming CEO Guillaume Faury tightens his grip after months of turmoil over corruption investigations and output delays, sources familiar with the matter said. The European planemaker could announce a new German chief financial officer as early as Wednesday to take over from Harald Wilhelm, who announced in May that he would leave next spring at the same time as current chief executive Tom Enders. It could also name a new operations boss to succeed Tom Williams, the chief operating officer of the main Airbus planemaking business, the sources said

Reuters November 21, 2018 01:05:31 IST
Airbus to unveil top finance, operational executives -sources

Airbus to unveil top finance operational executives sources

By Tim Hepher

PARIS (Reuters) - Airbus is poised to make top financial and operational appointments as incoming CEO Guillaume Faury tightens his grip after months of turmoil over corruption investigations and output delays, sources familiar with the matter said.

The European planemaker could announce a new German chief financial officer as early as Wednesday to take over from Harald Wilhelm, who announced in May that he would leave next spring at the same time as current chief executive Tom Enders.

It could also name a new operations boss to succeed Tom Williams, the chief operating officer of the main Airbus planemaking business, the sources said.

Airbus declined comment.

Williams, a Glasgow-born veteran troubleshooter and Airbus's unofficial UK ambassador, had agreed to postpone retirement until the end of the year to help tackle production delays but is likely to be succeeded by a German appointee in what could be seen as a blow to the profile of the company’s UK arm ahead of Brexit.

Programmes chief Didier Evrard also delayed his retirement until the end of the year.

Reuters reported last month that Airbus was close to naming a German executive from outside the group to replace fellow German Wilhelm after a board-driven management overhaul hastened his surprise resignation.

British and French authorities are investigating the use of middlemen in jetliner sales and Airbus says it is supplying information to U.S. authorities.

Wilhelm has not been accused of wrongdoing and it was he who initiated the planemaker’s decision in 2014 to halt a decades-old system of middlemen supporting jet sales.

But sources have said that his departure reflects a clearout designed to help Airbus to win more lenient judicial settlements by presenting a fresh face to investigators. A number of operational appointments, meanwhile, is expected to underscore Faury’s focus on stabilising output and fixing quality problems.

Airbus last month cut its core 2018 delivery target by 2 percent to 782 jets and faces a continued challenge to maintain that goal, people familiar with its production plans said.

(Reporting by Tim Hepher; Editing by Bate Felix and David Goodman)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.