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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bae Systems Plc | LSE:BA. | London | Ordinary Share | GB0002634946 | ORD 2.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
11.50 | 0.84% | 1,373.00 | 1,373.00 | 1,374.00 | 1,379.50 | 1,358.50 | 1,376.50 | 4,596,563 | 16:35:22 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Aircraft | 23.23B | 1.86B | 0.6133 | 22.40 | 41.59B |
Airbus Group NV Chairman Denis Ranque told shareholders on Wednesday the board has asked Chief Executive Tom Enders to remain in the post for another term. His mandate was due to expire in 2016.
Mr. Ranque said at the company's annual shareholder meeting in Amsterdam that Mr. Enders had been "a beacon of change and transformation of this group."
Mr. Enders became group chief executive in 2012 after running the commercial plane division, Airbus's largest unit by sales.
Mr. Enders has since seen through a restructuring at the group to shed some shareholder constraints inherited through the creation of the company by merging French, German and Spanish assets partly under state control. He also attempted a merger with BAE Systems PLC in 2012, though the deal failed amid German government opposition.
Mr. Ranque said Airbus would also move to more regularly replace board members, limiting them to three, three-year terms and setting a 75-year-age cap in new appointments.
Mr. Enders told shareholders the aircraft market that is crucial to the group remains healthy, even if order bookings this year will likely lag 2014's high figure. "Nevertheless, we are optimistic," he said.
The plane maker's updated single-aisle jet, called A320neo, remains on track for first delivery this year, he said, though acknowledging development hurdles. The A350 long-range jet program, which had its first delivery in December, is also progressing well though warned that the steep increase in production that's ahead in the next few years will be "very demanding."
Shareholders backed the board's request for an extraordinary share repurchase of 10% of company stock. Airbus may use cash generated from the sale of some of its stake in French combat jet maker Dassault Aviation SA to finance the repurchase.
Shareholders also approved a €1.20 per share dividend to be paid on June 3.
Airbus will also become a European incorporated company, rather than a Dutch one, which will lead to a change in its formal name to Airbus Group SE.
Write to Robert Wall at robert.wall@wsj.com
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