Shake-up at Airbus parent

July 16, 2007

German Chancellor Angela Merkel and French President Nicolas Sarkozy have agreed to streamline management at European aerospace giant EADS by scrapping the dual-nationality management structure. Under the deal, EADS German co-CEO Thomas Enders will become sole CEO of EADS unit Airbus, with Frenchman Louis Gallois becoming sole CEO of EADS. The group will be headed by another German, Daimler's Ruediger Grube. Just a week after arch-rival Boeing launched its Dreamliner, EADS and France and Germany hope this management shake-up will resolve longstanding problems at Airbus. Joanna Partridge reports for ReutersFEATURED SPEAKERS: Nicolas Sarkozy, French President; Angela Merkel, German Chancellor