Airbus picks Frenchman Faury as next CEO

Aircraft manufacturing boss Guillaume Faury was named as the next Airbus CEO on Monday, ending months of uncertainty over the leadership of Europe’s largest aerospace group and underlining the dominance of its commercial jet arm.

The 50-year-old Frenchman would replace German-born Tom Enders when he retired at the next shareholder meeting in April 2019, the Franco-German-Spanish company said on Monday. Chairman Denis Ranque, a Frenchman, would step down when his own term expired in 2020, it said.

The announcement came after the board brought forward discussions on the handover amid a growing leadership vacuum in the wake of a series of management departures, internal and external graft probes and the pre-announced exit of Enders. It did so as the board grappled with the need to avoid appearing indecisive following months of uncertainty over the top job.

Faury was appointed head of the core aircraft manufacturing business in December 2017 after Fabrice Bregier agreed to quit following a power battle with Enders, in a shake-up that also saw the German CEO draw back from plans to seek a third term in 2019.

Pressure to end uncertainty over the CEO job grew with the resignation of sales chief Eric Schulz in August, with the former Rolls-Royce executive’s abrupt departure strengthening calls for an internal successor to Enders.

As CEO of the only serious rival to US plane maker Boeing, Faury will continue to tackle industrial problems affecting some deliveries, while overseeing smaller but increasingly autonomous helicopter and defence units.