By Tim Hepher
PARIS, Oct 2 (Reuters) – Airbus has announced a series of board changes including its first female chairperson and the first from outside its Franco-German power base, marking the beginning of crucial leadership decisions expected in the coming year.
The European planemaker said late on Thursday that Spanish former energy executive Amparo Moraleda had taken over as chair of the board after being designated in April, succeeding Rene Obermann, who had already decided not to seek a new term.
Obermann, whose mandate was to expire next April, had signalled his intention to stand down in April this year.
A similar pattern was followed when Airbus tapped then-MTU Aero Engines CEO Lars Wagner to succeed Christian Scherer earlier than expected as divisional jetmaking CEO.
He took over in January, more than a year after being publicly named, in part to meet handover rules at MTU.
Several people familiar with the company said they expected a similar approach when deciding whether to renew or replace current CEO Guillaume Faury, with Wagner widely seen as heir apparent should Faury step down.
That means a decision on whether to renew Faury as well as any possible handover if the board decides on change are expected in 2027, well ahead of the April 2028 deadline, by which time Faury will have been in the job for nine years.
Two sources said Airbus could begin to look seriously at the CEO succession issue as early as April next year.
An Airbus spokesperson declined to comment on “speculation over leadership appointments”.
CONTINUITY VS SUCCESSION
The CEO at Airbus, with 160,000 staff and a product list ranging from jets that compete with Boeing to rockets and fighters, is one of Europe’s most sensitive industrial roles.
Airbus was born as a consortium backed by France, Germany, Britain and Spain in 1970, reshaped as one Franco-German-led group in 2000 and given autonomy over key appointments in 2013.
The handling of the appointment is seen as a crucial test of Airbus’ more market-focused recent governance. It takes place amid the first orderly backdrop to such a transition, following Franco-German power battles and French in-fighting up to 2019.
Analysts say Airbus must now balance continuity with the case for locking in a successor to oversee strategic decisions including design choices for a future new plane next decade.
Faury, 58, who was appointed in 2019 with an agenda to boost competitiveness and decarbonisation and oversaw Airbus through the COVID-19 crisis, has not ruled out serving a fourth term beyond 2028 and set out record profit targets for 2029 in July.
Asked at the time if he would be the one delivering on those targets, Faury said: “I am fully available for the board to do what they think is appropriate for the company and enjoy what I’m doing”.
Wagner has not commented on his future but the former engine company boss set out a vision in January that includes reviewing crucial engine technologies for an A320 successor – a once-in-a-generation bet expected to dominate the next CEO’s agenda.
However, some sources said there are questions over how long Wagner, a soft-spoken but laser-focused 51-year-old, will agree to remain in the waiting room for the top Airbus job if he does not get picked, after already serving as a listed company CEO.
Insiders said the group’s management of human resources is also under scrutiny after months of on-off strikes in Spain, believed to be the longest dispute in the company’s history.
Staff voted on Thursday to end the strike, which had snowballed as both the company and unions struggled to appeal to mainly young staff upset with efficiency measures and a return-to-work directive. Airbus dropped the four-day rule in August.
(Reporting by Tim Hepher, Editing by Louise Heavens)
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