ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

BA. Bae Systems Plc

1,373.00
11.50 (0.84%)
07 May 2024 - Closed
Delayed by 15 minutes
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 Asks Chief Executive to Stay for Another Term

27/05/2015 8:20pm

Dow Jones News


Bae Systems (LSE:BA.)
Historical Stock Chart


From May 2019 to May 2024

Click Here for more Bae Systems Charts.

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

Access Investor Kit for BAE Systems Plc

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=GB0002634946

Access Investor Kit for Airbus Group

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=NL0000235190

Access Investor Kit for Airbus Group

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US0092791005

Access Investor Kit for BAE Systems Plc

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US05523R1077

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


1 Year Bae Systems Chart

1 Year Bae Systems Chart

1 Month Bae Systems Chart

1 Month Bae Systems Chart

Your Recent History

Delayed Upgrade Clock