PARIS (AP) — European
plane and arms manufacturer EADS NV named Tom Enders its new CEO on Thursday,
saying the German will take over later this year from Louis Gallois.
EADS, a German-French
conglomerate, is a hallmark of European manufacturing. As the parent company of
plane maker Airbus, it competes fiercely with U.S.-based Boeing.
The German and French
states closely monitor its management, both to ensure the balance of power
between the two countries and as a matter of promoting European manufacturing.
When Germany's Daimler
sought to sell its stake in EADS last year, a German state-owned bank stepped
up to buy it, in order maintain the balance of ownership.
For many years, EADS
had co-CEOs, one from each country. In 2007, it switched to one chief
executive, whose nationality alternates.
Enders, 53, who is
currently the CEO of Airbus, will take over after the company's May 31 annual
meeting, when Gallois' five-year mandate expires.
At the same time,
Arnaud Lagardere, who runs the media company that bears his name, will take
over as chairman on the board.
Fabrice Bregier will
become CEO of Airbus.
The company has also
proposed that Jean-Claude Trichet, whose terms as president of the European
Central Bank ended last year, join its board.
Copyright
2012 The Associated Press.