Enders Named EADS Chief Executive

 - January 26, 2012, 4:15 PM
Airbus CEO Thomas Enders (Photo: Airbus)

The EADS board of directors has chosen Tom Enders to assume the role of CEO when Louis Gallois steps down at the end of his mandate on May 31. Now the CEO of Airbus, Enders will take over EADS for a new five-year term under the company’s bylaws.

Current Airbus COO Fabrice Brégier will succeed Enders as CEO of Airbus, and Günter Butschek, presently head of operations of Airbus, will replace Bregier. At the same time, Arnaud Lagardère will assume the role of chairman of the board, now held by Bodo Uebber.

Other changes include the appointment of Harald Wilhelm as CFO of EADS, alongside his present role as CFO of Airbus, following the decision by Hans Peter Ring to retire from the company and “pursue other objectives.” Ring has agreed to prepare his successor for the transition as a senior advisor until the end of this year.

The changes come as the succession process under the governance of EADS takes effect following the company’s annual general meeting, scheduled for May 31.

Until 2007, EADS for years employed co-CEOs, one from France and one from Germany.

Since then, the company has operated with a single CEO, whose nationality now alternates. Gallois joined EADS in July 2006 after Noel Forgeard resigned amid allegations of insider trading. He replaced Christian Streiff as CEO of Airbus in October 2006 and assumed the chief executive’s position at EADS in July 2007, when the company changed its corporate governance rules and Enders took over as Airbus CEO.