EUROPE'S LARGEST AEROSPACE FIRM, AIRBUS PARENT EADS, REPLACED TROUBLED CO-CHIEF EXECUTIVE NOEL FORGEARD WITH FRENCH RAILWAYS CHIEF LOUIS GALLOIS ON SUNDAY IN AN EFFORT TO RESOLVE A CRISIS FOLLOWING FRESH DELAY OF A380 SUPERJUMBO, REUTERS REPORTED. AIRBUS CEO GUSTAV HUMBERT ALSO RESIGNED AND WILL BE REPLACED BY CHRISTIAN STREIFF, FORMER DEPUTY CEO OF FRENCH BUILDING MATERIALS GROUP SAINT-GOBAIN, THE COMPANY SAID. THE SHAKE-UP ENDS MORE THAN TWO WEEKS OF SPECULATION ABOUT A MANAGEMENT SHAKE-UP AFTER AIRBUS ANNOUNCED DELAYS TO A380 DELIVERIES INTO 2009 WHICH TRIGGERED AN EADS PROFIT WARNING AND A SHARP SHARE SELL-OFF. FORGEARD HAD BEEN UNDER PRESSURE TO STEP ASIDE, YET AS RECENTLY AS LAST WEEK HE PLEDGED NOT TO DO SO, DETERMINED TO STAY ATOP EADS AND ULTIMATE BOSS OF AIRBUS, WHERE HE SERVED AS CEO FOR SEVEN YEARS UNTIL MOVING TO PARENT EADS LAST YEAR. TOM ENDERS, WHO REMAINS THE OTHER CO-CEO OF EADS, WILL NOW ASSUME RESPONSIBILITY FOR THE AIRBUS SHAREHOLDER COMMITTEE. GALLOIS "WILL JOIN CEO TOM ENDERS IN LEADING EADS AND THE EADS EXECUTIVE COMMITTEE WITH IMMEDIATE EFFECT," EADS SAID. "GALLOIS, TO DATE PRESIDENT OF THE FRENCH RAILWAY COMPANY SNCF, HAS BROAD EXPERIENCE IN INDUSTRIAL AND ESPECIALLY AEROSPACE BUSINESSES," THE COMPANY SAID IN A STATEMENT.
