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
0

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.


Nestle confirms guidance as third-quarter growth ticks up

Updated 18 October 2018
0

Nestle confirms guidance as third-quarter growth ticks up

  • Packaged food companies are struggling to adjust to consumers’ growing appetite for fresh, local foods
  • Nestle’s organic sales, which strip out currency swings and acquisitions, rose 2.9 percent in the third quarter

ZURICH: Food group Nestle confirmed it wants to grow sales by around 3 percent this year after it reported on Thursday improved trading in North America and infant nutrition had pushed up underlying sales in the third quarter.
Packaged food companies are struggling to adjust to consumers’ growing appetite for fresh, local foods, and Nestle and its peers are trying to boost performance by cutting costs, shedding underperformers and diversifying into premium and health foods.
“We are starting to see improved momentum in North America and in our infant nutrition category globally. Our business in China continued to grow at a mid-single digit pace,” Chief Executive Mark Schneider said in a statement on Thursday.
Nestle’s organic sales, which strip out currency swings and acquisitions, rose 2.9 percent in the third quarter, in line with forecasts in a Reuters poll. They were up 2.8 percent in the first nine months.
The maker of KitKat chocolate bars and Nescafe instant coffee also announced that Wan Ling Martello, currently head of the company’s zone Asia Oceania Sub-Saharan Africa (AOA), was leaving the company and would be replaced by Chris Johnson, currently head of group human resources and business services, on January 1.
Martello, who was chief financial officer before taking over zone AOA, was among the potential candidates to take over the CEO role at Nestle before company outsider Mark Schneider was appointed two years ago.
Peer Danone said on Wednesday that slacker demand for baby food in China and a consumer boycott in Morocco slowed third-quarter sales growth.