Airbus Tail Spin

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There was a lot of Airbus action over the weekend. On Friday rumors began to circulate that Chief Executive Christian Streiff had resigned. This prompted a denial from an Airbus spokeswoman. But the rumors refused to die, in part because the spokesfolks at Airbus’s parent corporation, EADS, refused to comment.
Now the French news service AFX is reporting that Streiff hasindeed resigned and EADS intends to accept the recognition.

Two key EADS shareholders, DaimlerChrysler and Lagardere, favoured the departure of Streiff, who last week sent letters of resignation to Gallois and the other EADS co-CEO, Tom Enders, the source said.
Streiff had wanted the autonomy to implement a restructuring plan for Airbus that the EADS board approved only in broad terms and only after initially opposing it.
The source said Streiff had been advised about EADS's governance rules before he took the Airbus post three months ago.

EADS continues to refuse to comment. And in this case a failure to issue a denial seems almost tantamount to a confirmation. Streiff was brought in from outside Airbus in July to run the company after insider trading allegations and production delays had badly damaged the companies share price.
EADS to accept Streiff's resignation; Gallois to head Airbus - source [AFX News Service]

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