Wednesday July 05, 2006

Heads of EADS, Airbus resign over A380 delays

channelnewsasia.com :

The heads of the European aerospace group EADS and its Airbus subsidiary have resigned over delays to deliveries of the A380 superjumbo, which have wiped 5.5 billion euros (US$6.5 billion) off EADS's shares and pushed Airbus into the wake of US rival Boeing.

The two companies issued terse statements announcing EADS's French co-chief executive Noel Forgeard and Airbus's German head Gustav Humbert were stepping down. Forgeard in particular has been under intense pressure to quit since it was revealed he sold EADS shares worth millions of euros just before the group announced the Airbus A380 delivery delays.

(2006-07-05 18:09:12 SGT) [Biz] Permalink

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