Airbus Chief Quits
By TSC Staff
10/6/2006 1:37 PM EDT
Airbus CEO Christian Streiff quit Friday, the Associated Press reported.
The two chief executives of Airbus' parent company, the European Aeronautic Defence & Space group, accepted Streiff's resignation, the AP reported. The news comes just days after Airbus admitted that production of its A380 superjumbo jet would be delayed for a third time, slashing almost a billion dollars a year off operating profit for the next four years.
EADS co-CEOs Tom Enders and Louis Gallois have agreed that Streiff should leave the company, a person close to Airbus told AP, several days after he threatened to resign amid a dispute over the transparency of financial and other reporting by Airbus to EADS. Airbus has been under the gun ever since rival Boeing gained widespread airline acceptance for its more economical 787 jetliner.
German weekly WirtschaftsWoche reported earlier that Streiff had offered his resignation in a letter to Gallois.
"We deny categorically that Mr. Streiff is to leave Airbus," spokeswoman Anne de Crozals said, AP reported.
http://www.thestreet.com/_yahoo/news...&cm_ite=NA