Sarkozy confirms Lagardere may succeed Grube in 4 years |
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Mon, 16 Jul 2007 13:22
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PARIS (Thomson Financial) - French president Nicolas Sarkozy said Arnaud Lagardere will replace Rudiger Grube as chairman of EADS' board of directors 'if he wants to,' confirming earlier reports from unnamed sources.Speaking in Toulouse at today's bilateral summit meeting, Sarkozy also said that Lagardere 'or one of his colleagues will henceforth chair Sogeade', the holding company which manages the French government's and Lagardere's EADS stakes.EADS confirmed in a press release this morning that its shareholders have agreed on a simplified governance system, with co-CEO Louis Gallois as sole group CEO, Tom Enders as head of Airbus, and Grube as group chairman, replacing Arnaud Lagardere who is currently co-chairman of EADS.A source close to the EADS board told Agence France-Presse this morning that Lagardere will remain a board member, acting as a representative of French shareholders, and will succeed Grube as chairman in four years.vicky.buffery@thomson.comvb/gpCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Lagardere to stay on EADS board, to succeed Grube in 4 yrs - source UPDATE 