The Newly Appointed Airbus CEO Steps Aside

October 11, 2006 at 11:04 pm (Companies, Other Countries)

Christian Streiff, who was just appointed as CEO of Airbus this July, resigned on Oct. 9. Streiff clashed bitterly with EADS, the parent company of the embattled European planemaker, over how much freedom had had to overhaul the company, which is plagued by the repeated delay of the flagship A380 and by manufacturing disorders.

Streiff demanded considerable freedom to impose 2 billion euros ($2.5 billion) a year in cost cuts at Airbus, reported the New York Times.

But EADS has been determined to assert its control over Airbus since last June, when it was caught off guard by costly delays in the production of the A380 (read the rest or the news report).



1 Comment

  1. Airbus Will Pay China Southern $250 million « Random Blog said,

    […] Following yesterday’s post about Airbus, a Chinese airline company will be compensated with $250 million from Airbus for the delay of the delivery of A380. […]

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