Airbus officials quit after jet delays row.Byline: BY ERYL CRUMP Daily Post Staff TWO Airbus bosses resigned yesterday in the wake of delivery delays and a share selling scandal. Airbus chief executive Gustav Humbert Dr. Gustav Humbert (born in February 1950 in Celle, Germany) is the former Chief Executive Officer and President of Airbus SAS, and a former member of the EADS Executive Committee. resigned after taking responsibility for a six to nine month delay in delivery of the new Airbus A380 superjumbo aircraft. Noel Forgeard, co-president of Airbus parent company EADS, left after coming under increasing pressure to quit amid claims of an insider trading scandal. Mr Forgeard, who denies wrongdoing, was accused of deliberately selling shares in EADS before the firm announced a delay to the Airbus A380 superjumbo. He said he sold the shares in question in March of this year, and that he did not know of delays in the production of the A380 until April. When the delays were announced last month, Airbus's share price slumped 26%. Mr Forgeard's protestations of innocence were not enough to calm shareholder anger, and he has now paid the price. Mr Humbert, who took over as chief executive last June, said: "The recently announced delay on the A380 production and delivery programme has been a major disappointment for our customers, our shareholders and our employees. "As president and chief executive of Airbus, I must take responsibility for this setback and feel the right course of action is to offer my resignation to our shareholders." Mr Humbert is being succeeded by Christian Streiff Christian Streiff was the CEO of the aircraft manufacturer Airbus S.A.S., he was nominated to this position on 2nd July 2006. He was replaced by Louis Gallois on 9th October 2006. On October 9th, 2006, Mr. , a former executive of French building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . group Saint-Gobain. Mr Forgeard is being replaced by fellow Frenchman Louis Gallois Louis Gallois (born January 26, 1944) is a French businessman and currently the CEO of EADS, and CEO of Airbus. Louis René Fernand Gallois was born in Montauban where he obtains the degree of Baccaulaureat in 1961 followed of the graduate of Business School HEC in , head of French state railway company SNCF SNCF Société Nationale des Chemins de fer Français (French National Railways) SNCF Sans Nous les Cafés Ferment (French) Following the scandal, there were also calls for EADS to end its dual management structure. A Franco-German firm, it has two chief executives and two chairman, one from each country It looks as if this structure will continue. EADS hold 80% of Airbus shares with the remainder held by BAe Systems. All the wings for Airbus aircraft are built at the company plant in Broughton, near Chester. The plant, which has benefitted hugely from European grant aid, employs more than 7,000 people. Production at the plant at Broughton is said to be unaffected by the delivery delays at present. Feel this is right course of action business @ dailypost co uk CAPTION(S): Noel Forgeard, co-president of Airbus parent company EADS, has quit |
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