Tom Enders To Take Over As CEO Following Louis Gallois

The EADS Board of Directors has met Thursday for one of its regularly scheduled meetings in Amsterdam. During this meeting, it was determined that Tom Enders would be designated to take over the role of CEO when Louis Gallois steps down from the position at the end of his mandate. Concurrently, Arnaud Lagardère will assume the role of Chairman of the Board presently held by Bodo Uebber.

The change-over was prepared diligently by the Board and results from the application of the succession process under the governance of EADS, which was updated in October 2007. It will take place after the company’s Annual General Meeting (AGM) on May 31st, 2012. These new mandates carry a five year term.

“Today’s decisions mark a very important milestone in the development of EADS. Having clarity about the Board and management positions enables EADS to build a bright future for the long term on solid foundations," said Bodo Uebber, the Chairman of the Board. I am very pleased and proud with the overall composition of the Board of Directors and with the appointments to the management team, especially with its multi-national character. I know that my successor Arnaud Lagardère and all of us share the same strong interest and ambitions for EADS.”

“The management is grateful that the Board has taken these wide-ranging decisions, in a dispassionate climate, and timely to facilitate a professional transition," Gallois (pictured) said. "Tom Enders not only has a wide range of experience across our businesses, but strong leadership skills and charisma with an established track record. I am sure that he will extend his vision for EADS in the best interest of all its stakeholders and in particular of the great community of employees working together across our nations."

“It was with great satisfaction that through our succession planning process we have found such a wealth and breadth of talents inside EADS," said Sir John Parker, Chairman of the Remuneration and Nomination Committee. "We chose the right person for each of the open positions, to rise to the upcoming strategic challenges facing this Group, and maintain its hard earned leadership positions. It is regrettable that this generation of management could not yet incorporate female appointments, but I feel comforted that the next wave is showing some very promising prospective candidates for subsequent rounds of succession."

FMI: www.eads.com