French public prosecutor probes Forgeard's severance pay at EADS - sources |
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Published
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Tue, 22 May 2007 13:09
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PARIS (Thomson Financial) - The public prosecutor's office in Paris is conducting a preliminary investigation into the awarding of severance pay to former EADS co-CEO Noel Forgeard, according to sources close to the matter.The sources said that the investigation, launched at the end of April, aims to establish whether the conditions of the pay award were legal.The inquiry follows a lawsuit filed last month by Albert Torjman, a small shareholder in EADS, against Noel Forgeard for corruption.Forgeard's severance pay of over 8 mln eur has been the subject of fierce controversy. EADS co-chairman Arnaud Lagardere has maintained that the payout simply respected conditions in Forgeard's employment contract, while co-CEO Thomas Enders claimed in an press interview earlier this month that the French government pushed for the settlement.tfn.paris@thomson.comafp/gt/cmlCOPYRIGHTCopyright 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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EADS's Enders says French govt pressed for agreement on Forgeard's severance 