Bloomberg News

EADS Said to Name Former ECB Head Trichet to Supervisory Board

January 26, 2012

Jan. 26 (Bloomberg) -- European Aeronautic, Defence & Space Co. is set to appoint former European Central Bank President Jean-Claude Trichet to its supervisory board as part of a wider management reshuffle, two people familiar with the plan said.

EADS holds a board meeting today and may decide on the nomination then, said the people, who spoke on condition of anonymity because the information is not yet public. Shareholders will vote on the proposal at the annual general meeting in May in Amsterdam.

EADS, the Paris- and Munich-based parent company of aircraft manufacturer Airbus SAS, is nearing a management overhaul in which Airbus Chief Executive Officer Tom Enders is set to take over from retiring EADS CEO Louis Gallois, while Arnauld Lagardere will become EADS chairman and Airbus Chief Operating Officer Fabrice Bregier will succeed Enders at Airbus.

The company, which is partly owned by the French and German governments, has agreed to alternate nationalities in key executive positions as the state shareholders seek to guard a balance of influence. Trichet stepped down from the Frankfurt- based ECB last year and handed over to Mario Draghi.

Les Echos reported earlier today that Trichet will take the board place vacated by Lagardere when he is named chairman.

--With assistance from Chris Reiter in Berlin. Editors: Benedikt Kammel, Heather Harris

To contact the reporter on this story: Andrea Rothman in Paris at aerothman@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net


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