The aircraft manufacturing firm Airbus is currently in a new wave of speculation over the future of some of its senior managers due to corruption charges that have affected the company, adding to the already long-existing clash of egos amongst those at the top. This information was revealed by people that are familiar with the company.
The board directors meeting which is slated for today will see them aim to contain the damage from the multiple international frauds facing them including commercial and military sales. The directors would also discuss how they are going to happen a couple of departures that are going to happen, according to the sources.
A source close to the company stated that “You can’t rule out a change of governance before the end of the year.”
The other sources are more cautious though as they point to next year as a very important period for the company who has been enjoying a record share price despite their struggles to maintain its selling positions against major rival Boeing Inc.
So far investors have stuck with the company despite the impact of the investigations and a loss of sales momentum, adding the retirement of some senior members will affect the company further.
A person who deals with the company stated that “You won’t recognize the company within 12-18 months.” The CEO of the company Tom Enders has reiterated his position that he isn’t staying beyond his current tenure which ends by 2019, according to the report by Le Figaro reported on Tuesday, reversing a position taken in April.
Enders who has become more isolated after losing his top aide last week and facing several complaints about compliance reforms of the company has stated that his future is for him to decide and the board. In his interview with Reuters, he stated that “Reports of my demise are premature and exaggerated.”
Back in October, the board had appointed head-hunters to examine fresh options for top posts, though the company reiterated that it is a normal planning exercise that they conduct.
Sources in the aviation industry have stated that Enders is expected to relinquish a third term due to some personal reasons and the fact that the board is looking for a fresh management who will ease the effects of the corruption allegations.