Word: forgeard
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...information that rough times were ahead for EADS, they must have known months before the public did. And in that time, Airbus executives had sold millions in stock options - though all have maintained they did so legally, and after consulting company compliance officials. Among those was Noël Forgeard, who as co-president of EADS exercised around $14 million in stock options he and his children held in March 2006 - netting capital gains of over $3 million, just three months before the group share price tanked. Like other officials named in past and the new reports, Forgeard has consistently...
Louis Gallois, a Frenchman who was appointed CEO of Airbus last October, is trying to maneuver out of that mess. It's a perilous undertaking. Gallois replaced Christian Streiff, who lasted just 100 days after replacing Noël Forgeard, who was fired last summer. The restructuring plan Gallois unveiled seeks to eliminate duplication and reduce the 16 manufacturing plants to 10. His plan carefully distributes the job cuts. Immediately, politicians and unions in France and Germany started sniping over which side should bear the biggest burden. The three main candidates in the current French presidential-election campaign then promised more...
...does it take to run a pan-European defense company? The answer is still two, for European Aeronautic Defence & Space Co. (EADS), owner of Airbus. And that might still be one too many. Delays in building the A380 megajet led to the ouster of EADS co-CEO Noël Forgeard as well as Airbus' top boss. Filling Forgeard's spot is Louis Gallois, head of France's railways, who will partner with EADS's remaining CEO, Tom Enders, a German. At Airbus, naming Christian Streiff CEO should placate two of EADS's largest shareholders, the French government and Germany...
...Sciences Po. Adding to the turbulence, last week Villepin sued three authors for libel over claims linked to the murky Clearstream affair, then let his frustration boil over in the face of charges that he was too eager to protect embattled EADS co-ceo Noël Forgeard in the face of expensive Airbus production delays and an investigation into the propriety of stock sales. When Socialist leader François Hollande said Villepin inspired "no confidence," the Prime Minister summoned his most arrogant tone, saying: "I denounce the easiness, and I say it to your face, the cowardice...
...with reminders that the Dreamliner is still in the concept phase, leaving its performance and delivery dates unknown. But the share price of Airbus' parent, EADS, still dropped 2.35% on analyst fears that Airbus invested too much in the super-jumbo market. "Bulls__t," Airbus CEO Noël Forgeard said in response. "I don't think we'll really see whether the massive A380 gamble pays off until 2007 and beyond," comments Joe Gill, head of equity research at Goodbody Stockbrokers in Dublin . "Any sign the A380 won't pan out will also shape new airport construction, since...