The European Aeronautic Defense and Space company (EADS) on Saturday settled wrangling over top management lasting for months by naming news leaders for the company.
Thomas Enders and Noel Forgeard are named as EADS co-presidents and Gustav Humbert, the current number two at Airbus, is to replace Forgeard as chief executive of the European aircraft maker Airbus, of which 80 percent are owned by EADS and 20 percent owned by British BAE Systems, the company said in a statement.
EADS's French and German shareholders had been unable to agree on the choice of the company's leadership and the division of responsibilities, causing delay of the official appointment of Forgeard and Enders in their co-CEO roles.
French Finance Minister Thierry Breton said at an interview with the French newspaper Le Figaro in its Saturday edition that EADS' management choices were "the best and the most competent" for the positions.
"In all, the system has allowed for a good balance between the French and the Germans," he added.
Humbert, 55-year-old German, previously chief operating officerat Airbus, was appointed in agreement with co-shareholder BAE Systems Plc, EADS said in a statement on its Web site today.
Forgeard, however, will get to keep an eye on his old job as hewill oversee the Airbus shareholders' committee.
"We are happy that after intense discussions, we can today namean excellent team and a new management structure for EADS," said Manfred Bischoff and Arnaud Lagardere, the group's interim co-CEOS,in a statement.
EADS is 30-percent owned by DaimlerChrysler and 30-percent owned by a holding company which is jointly controlled by French government and Lagardere.
