Airbus Group NV Chairman Denis Ranque told shareholders on
Wednesday the board has asked Chief Executive Tom Enders to remain
in the post for another term. His mandate was due to expire in
2016.
Mr. Ranque said at the company's annual shareholder meeting in
Amsterdam that Mr. Enders had been "a beacon of change and
transformation of this group."
Mr. Enders became group chief executive in 2012 after running
the commercial plane division, Airbus's largest unit by sales.
Mr. Enders has since seen through a restructuring at the group
to shed some shareholder constraints inherited through the creation
of the company by merging French, German and Spanish assets partly
under state control. He also attempted a merger with BAE Systems
PLC in 2012, though the deal failed amid German government
opposition.
Mr. Ranque said Airbus would also move to more regularly replace
board members, limiting them to three, three-year terms and setting
a 75-year-age cap in new appointments.
Mr. Enders told shareholders the aircraft market that is crucial
to the group remains healthy, even if order bookings this year will
likely lag 2014's high figure. "Nevertheless, we are optimistic,"
he said.
The plane maker's updated single-aisle jet, called A320neo,
remains on track for first delivery this year, he said, though
acknowledging development hurdles. The A350 long-range jet program,
which had its first delivery in December, is also progressing well
though warned that the steep increase in production that's ahead in
the next few years will be "very demanding."
Shareholders backed the board's request for an extraordinary
share repurchase of 10% of company stock. Airbus may use cash
generated from the sale of some of its stake in French combat jet
maker Dassault Aviation SA to finance the repurchase.
Shareholders also approved a €1.20 per share dividend
to be paid on June 3.
Airbus will also become a European incorporated company, rather
than a Dutch one, which will lead to a change in its formal name to
Airbus Group SE.
Write to Robert Wall at robert.wall@wsj.com
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