Airbus undergoes top management shake-up

Airbus chief executive Tom Enders will not seek a new mandate when his term expires in 2019, the French planemaker said. (Reuters)
Updated 15 December 2017
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Airbus undergoes top management shake-up

PARIS: Airbus confirmed a top management shake-up on Friday, following weeks of turmoil at the European planemaker.
Chief operating officer and planemaking chief Fabrice Bregier will step down in February 2018, while chief executive Tom Enders will not seek a new mandate when his term expires in 2019, the company said.
Guillaume Faury, currently chief executive of Airbus Helicopters, will succeed Bregier as president of the main commercial aircraft division, it said in a statement, confirming a Reuters report.
The company said the board had acted to secure an orderly succession at the world’s second-largest planemaker, which has been beset by rivalries and abrupt changes in the past.
During 2018, the board will assess internal and external candidates for the CEO role with a view to announcing Enders’ successor in good time for confirmation at the 2019 annual shareholder meeting, the statement said.
Bregier, a 56-year-old Frenchman who has long been seen as the natural heir to Enders, has told the board he does not intend to be part of the selection process for the CEO position in 2019, and will therefore step down in February 2018 to “pursue other interests,” the statement said.
However, Bregier hinted at the long-running battle with Enders over status and responsibility, which many people in the company say, contributed to his unscheduled departure, listing the various titles he had held while running the planes unit.
Enders said he would work to ensure a smooth transition.


BlackBerry quarterly results beat on software strength

Updated 2 min 9 sec ago
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BlackBerry quarterly results beat on software strength

BENGALURU: Canadian software maker BlackBerry Ltd. on Friday reported quarterly revenue and profit that topped analysts’ estimates, driven by strong growth in its high-margin software and services business.
US-listed shares of BlackBerry rose 2.6 percent to $11.89 in premarket trading.
The Waterloo, Ontario-based company said revenue from its enterprise software and services business rose 18 percent to $189 million in the first quarter.
Blackberry, which dominated the smartphone market nearly a decade ago before losing out to Apple Inc’s iPhones and Android devices, has been trying to win investor confidence and make money by selling software to manage mobile devices to corporations and government agencies.
As part of the transition, the company is focusing on making software for next-generation driverless cars based on its QNX platform.
“I am pleased that BlackBerry QNX software is now embedded in over 120 million automobiles worldwide, doubling the install base in the last three years,” Chief Executive Officer John Chen said in a statement.
The company’s net loss was $60 million, or 11 cents per share, for the first quarter ended May 31, compared with a profit of $671 million, or $1.23 per share, a year earlier.
BlackBerry received a one-time arbitration payment of $940 million from Qualcomm Inc. in the year-ago quarter.
Excluding items, the company earned 3 cents per share. Analysts were expecting the company to break even on a per share basis, according to Thomson Reuters.
Total revenue fell 9.4 percent to $213 million, but still beat analysts’ estimate of $208 million.