(Corrects first and second paragraphs to say government shareholders won’t have veto rights and can approve four of 12 board members.)
European Aeronautic, Defence & Space Co. (EAD)’s government shareholders won’t have veto rights over moving the headquarters or changing statutes that require the majority of board directors to be European Union citizens, a person with knowledge of the matter said.
The French and German states will have the right to approve four members of a 12-strong board, said the person, who asked not to be identified as the plans are private.
EADS spokesman Martin Aguera declined to comment.
The Toulouse, France-based company today announced wide- ranging changes to its shareholder pact.
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