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A German May Head Eads!  
User currently offlineElvis777 From United States of America, joined Aug 2005, 360 posts, RR: 3
Posted (7 years 2 weeks 4 days 5 hours ago) and read 1710 times:

Howdy all,

Oh mon dieu!!!

Sacrebleu!

Baby is not back in daddy's arms!

What will the other shoe say when it drops?

Will Sarkozy and the pride of france allow this??

Tune in tomorrow for the next episode of "Its my airplane company and i'll do as I see fit you jerk!!!!!!!"

Peace

Elvis777

Agreement seen on deal that would see Enders, a German, as sole chief of EADS
By Nicola Clark
Published: July 6, 2007
International Heral Tribune

"PARIS: In an apparent setback for the new French president, Nicolas Sarkozy, who has been seeking to expand French influence at EADS, the main private shareholders at the aeronautics and military group - and parent company of Airbus - have reached a deal that would see a German become the sole chief executive, people with knowledge of the negotiations said Friday.

The deal to streamline the group's dual, French-German management structure would give DaimlerChrysler, the main German shareholder, the right to name the chief executive. The chairman would be nominated jointly by Lagard�re and the French government......


As recently as Tuesday, Sarkozy was believed to be pushing Enders' alter-ego, Louis Gallois of France, for the top executive's job at EADS, parent company of Airbus..........."

You cna find the whole thing here.


http://iht.com/articles/2007/07/06/business/eads.php


Leper,Unevolved, Misplaced and Unrepentant SportsFanatic and a ZOMBIE as well
16 replies: All unread, jump to last
 
User currently offlineThorben From , joined Dec 1969, posts, RR:
Reply 1, posted (7 years 2 weeks 4 days 5 hours ago) and read 1701 times:

Why not, double EADS boss is probably not very good anyway. Gallois can be CEO of Airbus, Enders of EADS. That'll do for now and in the future we'll hopefully see less governmental influence and therefore less looking at passports and more on abilities.

Maybe EADS is going to have an American CEO someday.


User currently offlineNAV20 From Australia, joined Nov 2003, 9909 posts, RR: 36
Reply 2, posted (7 years 2 weeks 4 days 5 hours ago) and read 1674 times:

Just as a matter of interest, EADS' Articles of Association currently provide as follows:-

"The Company is represented by the Board of Directors or by the Chief Executive Officers acting jointly. Furthermore, the Company has granted general powers to each of the Chief Executive Officers, authorizing them to each individually represent the Company.

"In the event of a deadlock between the two Chief Executive Officers, the matter shall be referred to the two Chairmen.

"The Chief Executive Officers shall not enter into transactions which form part of the key responsibilities of the Board of Directors unless these transactions have been approved by the Board of Directors."


http://www.eads.com/1024/en/corporat...ectors/Board%20of%20Directors.html

As I understand that, under the proposed new arrangement of one CEO and one Chairman, it would be the latter, the Chairman, who would have the ultimate say in decisions? And if the CEO is going to be German, presumably the Chairman will be French?



"Once you have flown, you will walk the earth with your eyes turned skywards.." - Leonardo da Vinci
User currently offlineGbfra From Germany, joined Sep 2006, 448 posts, RR: 0
Reply 3, posted (7 years 2 weeks 4 days 4 hours ago) and read 1636 times:

http://www.ft.com/cms/s/cbe376c4-2be8-11dc-b498-000b5df10621.html

They also write that Daimler is ready to participate in an increase of shareholder capital.

The same story can be found in two or three German publications.



The fundamental things apply as time goes by
User currently offlineNAV20 From Australia, joined Nov 2003, 9909 posts, RR: 36
Reply 4, posted (7 years 2 weeks 4 days 4 hours ago) and read 1605 times:

Quoting Gbfra (Reply 3):
They also write that Daimler is ready to participate in an increase of shareholder capital.

Thanks for the link, Gbfra - slight correction, though, it says, "In a sign of compromise, it is understood that Daimler has withdrawn its objections to an eventual capital increase at EADS........" As I read that, it won't be Daimler putting in more money, but they'll let someone else chip in?

The article also suggests that nothing - certainly not the appointment of Enders as CEO - is certain, and that a fierce argument is going on as to who does what.  

"The 63-year-old Mr Gallois, a veteran of the aerospace industry, is unlikely to be happy to report to 49-year-old Mr Enders, according to company insiders.

"The government has suggested that Philippe Camus, the former French co-chief executive of EADS and a Lagardère executive, come back as chairman.

"But Arnaud Lagardère, currently the French co-chairman, is insisting he will not step down while his group is a significant shareholder. Under the shareholder pact it is not clear that the French government can force him out."


Looks like a first-class disorganised mess all round.

[Edited 2007-07-07 17:46:44]


"Once you have flown, you will walk the earth with your eyes turned skywards.." - Leonardo da Vinci
User currently offlineN328KF From United States of America, joined May 2004, 6483 posts, RR: 3
Reply 5, posted (7 years 2 weeks 4 days 4 hours ago) and read 1579 times:

I have a better answer: 100% free float, and let shareholders nominate who they want to the board.


When they call the roll in the Senate, the Senators do not know whether to answer 'Present' or 'Not guilty.' T.Roosevelt
User currently offlineGbfra From Germany, joined Sep 2006, 448 posts, RR: 0
Reply 6, posted (7 years 2 weeks 4 days 4 hours ago) and read 1579 times:

Quoting NAV20 (Reply 4):
Thanks for the link, Gbfra - slight correction, though, it says, "In a sign of compromise, it is understood that Daimler has withdrawn its objections to an eventual capital increase at EADS........" As I read that, it won't be Daimler putting in more money, but they'll let someone else chip in?

According to German media Daimler will put additional money into EADS if the French are demanding an increase of shareholder capital.

Quoting NAV20 (Reply 4):
Looks like a first-class disorganised mess all round.

That's the way you usually like to look at EADS/Airbus.

According to German media the French have agreed that Enders will become EADS-CEO.

An agreement seems to exist that Gallois remains Airbus-CEO.

The French have obviously not decided on the Chairman. But this is their decision and no reason for a Franco-German debate.



The fundamental things apply as time goes by
User currently offlineNAV20 From Australia, joined Nov 2003, 9909 posts, RR: 36
Reply 7, posted (7 years 2 weeks 4 days 4 hours ago) and read 1560 times:

Quoting Gbfra (Reply 6):
The French have obviously not decided on the Chairman. But this is their decision and no reason for a Franco-German debate.

You mean that neither the Germans nor the shareholders have any say in who heads the company, and that the French Government (which only owns 15% of the shares) can just appoint whoever it wants?



"Once you have flown, you will walk the earth with your eyes turned skywards.." - Leonardo da Vinci
User currently offlineGbfra From Germany, joined Sep 2006, 448 posts, RR: 0
Reply 8, posted (7 years 2 weeks 4 days 3 hours ago) and read 1502 times:

According to the pact of shareholders between Daimler and Sogeade (French Government and Lagardère) each camp can nominate "their" members of the board. THese members are elected at the occasion of the annual shareholder's meeting (where Daimler and Sogeade usually find a majority).

So, if the Chairman will be French the French Government and Lagardère will first have to agree on one. According to various media reports the Government favors M. Philippe Camus while Lagardère favors M. Arnaud Lagardère.



The fundamental things apply as time goes by
User currently offlineElvis777 From United States of America, joined Aug 2005, 360 posts, RR: 3
Reply 9, posted (7 years 2 weeks 3 days 22 hours ago) and read 1385 times:

Howdy Gbfra,

Quoting Gbfra (Reply 6):
That's the way you usually like to look at EADS/Airbus.

No matter you predilection and hopes for eads succeeding... this should not detract you from looking real closely at the mess (that is what it is after all) that is the state of eads management. You are not betraying them by saying that they have many troubles b/c of this management situation or by asking for less govt interference. However, you are being disloyal to eads and its future if you continue to defend this present management situation. Everyone agrees that this needs to change. They are trying to change it, fair enough, but they have not yet signed on the dotted line. What if Sarkozy gets his wish? Will you then defend that status? You can hope and wish for the best for eads but that means that you have to recognize where the problems are. IT will make for a stronger more competitive eads when this is fixed. Or don�t you want that?

Do you not think that the eads management issue is a problem? Then why go after others that do think eads has a problem?

Try to remember that Pointing out the problems is not being disloyal or in more childish terms "Bashing of eads". It is for the best that any problems whether they be at Boeing or eads be thoroughly aired and discussed, no matter how much it hurts our corporate sensibilities...

Elvis777



Leper,Unevolved, Misplaced and Unrepentant SportsFanatic and a ZOMBIE as well
User currently offlineGbfra From Germany, joined Sep 2006, 448 posts, RR: 0
Reply 10, posted (7 years 2 weeks 3 days 21 hours ago) and read 1345 times:

Quoting Elvis777 (Reply 9):
No matter you predilection and hopes for eads succeeding... this should not detract you from looking real closely at the mess (that is what it is after all) that is the state of eads management. You are not betraying them by saying that they have many troubles b/c of this management situation or by asking for less govt interference. However, you are being disloyal to eads and its future if you continue to defend this present management situation. Everyone agrees that this needs to change. They are trying to change it, fair enough, but they have not yet signed on the dotted line. What if Sarkozy gets his wish? Will you then defend that status? You can hope and wish for the best for eads but that means that you have to recognize where the problems are. IT will make for a stronger more competitive eads when this is fixed. Or don�t you want that?

Do you not think that the eads management issue is a problem? Then why go after others that do think eads has a problem?

Try to remember that Pointing out the problems is not being disloyal or in more childish terms "Bashing of eads". It is for the best that any problems whether they be at Boeing or eads be thoroughly aired and discussed, no matter how much it hurts our corporate sensibilities...

I am completely baffled by your comments.

First of all I am not working with EADS or Airbus. Therefore I don't understand what you are writing about loyalty. Maybe you are refering to my flag. In fact, I am a German and I have lived in France for almost ten years and, yes, I would be so arrogant to say that I know both sides of the coin a little bit at least.

However, as a journalist for a German newspaper and as a book-author on Airbus and Boeing, I have been for years extremely critical of the organisation of EADS with regard to shareholders as well as with regard to the corporate structure. If you were able to read German you knew that I have been opposed to the influence of Governments and I have written more than one paper on the need to streamline their management. All this is printed in black and white and I really don't need any Americans or Australians to tell me that they have been very inefficient in recent years.

However, it appears to me that they are finally about to solve some - maybe not all - of their problems. As well as I was extremely critical in the past I am ready to acknowledge if they do make progress. And Afaik, it might not yet be official and the public will be informed on July 16th, yes, they are about to solve some problems. If you like it or not. I am neither pro nor against EADS. I am just looking at facts.

As for NAV 20. I don't care because he obviously has no particular knowledge about what is going on in Europe. A couple of months ago he was considering that Airbus was so dire that they could no longer afford to build A380-frames. This was the most absurd post I have ever seen on this forum. As far as i can judge the quality of his comments on EADS/Airbus have not improved since then.



The fundamental things apply as time goes by
User currently offlineAutoThrust From Switzerland, joined Jun 2006, 1589 posts, RR: 9
Reply 11, posted (7 years 2 weeks 3 days 21 hours ago) and read 1303 times:

Quoting Gbfra (Reply 10):
However, it appears to me that they are finally about to solve some - maybe not all - of their problems. As well as I was extremely critical in the past I am ready to acknowledge if they do make progress. And Afaik, it might not yet be official and the public will be informed on July 16th, yes, they are about to solve some problems.

Well said, couldnt agree more. thumbsup  A german as EADS boss a french as Airbus boss would be a part of the solution IMO to make EADS/Airbus a more integrated company. As you said its indeed a step forward and a sign things are getting better.



“Faliure is not an option.”
User currently offlineNAV20 From Australia, joined Nov 2003, 9909 posts, RR: 36
Reply 12, posted (7 years 2 weeks 3 days 16 hours ago) and read 1243 times:

Quoting Gbfra (Reply 10):
A couple of months ago he was considering that Airbus was so dire that they could no longer afford to build A380-frames. This was the most absurd post I have ever seen on this forum. As far as i can judge the quality of his comments on EADS/Airbus have not improved since then.

Don't see why suggesting that Airbus has a cash flow problem is 'absurd,' Gbfra - especially since the current argument within EADS is how to find a way to inject much-needed extra working capital without disturbing the French/German power split?

Quoting Gbfra (Reply 10):
And Afaik, it might not yet be official and the public will be informed on July 16th, yes, they are about to solve some problems.

As a matter of interest, what constructive things, in your view, have EADs/Airbus actually DONE since the 'big bang' in 2006? As far as I can see, they've only fired two people (Forgeard and Humbert) and hired-and-fired another, Streiff. The vacancies have been filled by shifting around people like Gallois and Enders, who were already in positions of power and therefore share responsibility for the original mismanagement. Beyond that, they've talked about Power 8 - but only talked.

On present evidence, the only thing that is being 'talked about' now is more 'shifting of the deckchairs,' Titanic-style; the same people will stay in charge. The only certainties are:-

1. The top man will be either a Frenchman or a German.

2. Nothing at all will happen until all the arrangements are personally approved by the French President and the German Chancellor.

3. The French and German Governments will continue to operate as the de facto management of EADS/Airbus.

I really don't see that calling that a 'disorganised mess' is anything more than fair comment.



"Once you have flown, you will walk the earth with your eyes turned skywards.." - Leonardo da Vinci
User currently offlinePM From Germany, joined Feb 2005, 6865 posts, RR: 63
Reply 13, posted (7 years 2 weeks 3 days 15 hours ago) and read 1235 times:

Quoting NAV20 (Reply 4):
Looks like a first-class disorganised mess all round.

Well, that'll make you happy then!  Wink


User currently offlineMariner From New Zealand, joined Nov 2001, 24999 posts, RR: 85
Reply 14, posted (7 years 2 weeks 3 days 15 hours ago) and read 1228 times:
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Quoting N328KF (Reply 5):
I have a better answer: 100% free float, and let shareholders nominate who they want to the board.

Where does that happen?

I own - or have owned - shares in companies in the US, Australia and New Zealand, and I have never experienced that.

I have been asked to vote, as a shareholder, for people nominated by the company - the board - but they are usually the people they want to have on the board.

I have seen very occasional cases where "large block"shareholders have nominated a person for the board, and even rarer cases where those nominees have been elected. But I could probably count them on less than the fingers of one hand.

I have also seen cases where people buy their way onto the board by virtue of having purchased sufficient numbers of shares. I'm not sure they are always the best people for the job, but they have become the effective part owners so it is entirely their right.

mariner



aeternum nauta
User currently offlineMah584jr From United States of America, joined Mar 2006, 506 posts, RR: 0
Reply 15, posted (7 years 2 weeks 3 days 14 hours ago) and read 1203 times:

Quoting AutoThrust (Reply 11):
A german as EADS boss a french as Airbus boss would be a part of the solution IMO to make EADS/Airbus a more integrated company.

It seems to me that what you're suggesting is that the nationality of the "bosses" will result in a better integrated company. I guess to me that comment seems odd solely because I think the successful integration of a company depends on the abilities of the "bosses" not their nationality. Just my two cents.


User currently offlineBaroque From Australia, joined Apr 2006, 15380 posts, RR: 59
Reply 16, posted (7 years 2 weeks 3 days 11 hours ago) and read 1142 times:

Well Gallois's fate was sealed once the translation as Welsh Louis appeared in a.net.

Does Enders translate as anything dangerous I wonder.


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