Airbus to appoint a new chief executive at the end of the year

posted on 23rd March 2018 by Jordan Newton
Airbus to appoint a new chief executive at the end of the year

Airbus has said this week it will name a new chief executive until the end of this year with the appointment made led by an independent committee backed by external consultants.

The French aircraft manufacturer is looking to appoint a successor to Tom Enders and a new name will be submitted to shareholders at the annual general meeting in Spring 2019.

An Airbus statement said it is carrying out a robust process to ensure an “orderly top management succession and to accordingly secure full continuity with the strategy and objectives set in recent years”.

The statement added: “This process, endorsed by the entire Board and managed by the fully independent Remuneration, Nomination and Governance Committee, is the continuation of annual management succession reviews made since several years.

“Since the beginning of last year the process has been further strengthened including by the appointment of an international independent reputable external consultant.

“In this context the Airbus Board of Directors has sole responsibility for the selection of the next chief executive of Airbus, amongst both internal and external candidates. It has the single objective of choosing the individual best qualified to lead the enterprise into a promising future such choice to be made according to Airbus internal governance rules.

“The process for achieving that objective will take place over the coming year, culminating in an announcement at year-end, with a view to submitting the choice to Airbus shareholders at the 2019 Annual General Meeting of shareholders.”

Airbus said during the process, Enders will “support and nurture” the development of the new top management team members, adding: “Until this announcement at year-end is made, the board and the company will not comment on any rumours of speculation about the process.”

In December, the Airbus board agreed the staggered exit of both its top executives Enders and second in charge Fabrice Bregier, who then left in February. Enders then said he would not seek a new term when his mandate expires in 2019.