Aug 26, 2008
One year after the two-man management, EADS works better but ...
Abandoning a year ago of the two-man management of EADS has improved the functioning of the European aerospace and defence, but Franco-German tensions remain within the company also faces a bleak future of air transport, according to analysts.
"It is good for the company. But I think the subject of integration and the question of how to overcome cultural differences are far from over. This will certainly last for years or even decades "Observes an analyst German.
On 27 August 2007, the French Louis Gallois took sole command of EADS that he shared previously with German Thomas Enders, appointed him to head the aircraft manufacturer Airbus, the main subsidiary of the group. A decision announced a month earlier, during a meeting in Toulouse between the french president Nicolas Sarkozy and German Chancellor Angela Merkel.
Established in the interests of balance between the two founding nations of EADS, France and Germany in 2000, the two-headed leadership group was blamed setbacks industrialists very jumbo jet Airbus' A380, and incessant friction within the management.
This reform governance structures EADS is "a step quite positive" for the group, which will allow it to become "a truly integrated with a" unity of vision ", said Welsh had become a single leader . "We must continue to build the new Airbus, integrated and more efficient", was expensive for his part Mr. Enders.
"From the viewpoint of strict management, it works well. Louis Gallois done a good job, it seems to be appreciated by all", said Nick Cunningham, an analyst with Evolution Securities in London.
But the Franco-German tensions have not completely disappeared. Upon arrival of Mr. Enders at Airbus, some french unions worried of a "control" of Germany. And last spring, many voices were raised in Toulouse, headquarters of Airbus, to assert that the region was a disadvantage compared to the German sites, as part of restructuring plan for the aircraft manufacturer, Power8.
A critic who had pushed Mr. Welsh to meet in person Airbus executives and local elected officials and affirm that there was no imbalance between France and Germany.
In addition, the presence of 2,000 German expatriates in Toulouse until the end of the year to address the delay of the A380 has been a source of tension with french staff. So much so that Mr. Gallois said last June "like improving the climate in Toulouse."
German side, many see the French investigation for alleged insider trading in EADS involving several leaders still in office, as a political manoeuvre to undermine Mr. Enders, itself concerned, was last June the daily Financial Times Deutschland. In July, Mr. Enders, had called the investigation "trial played in advance."
But "the biggest problem EADS is actually outside", said Mr. Cunningham: Victims of oil prices and a sluggish global economic environment, many airlines, Airbus clients start to show signs of weakness, which could lead some of them to deferrals of orders or cancellations.
by erectusplus at 12:10 AM |
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