Airbus chief steps down

EADS has announced the resignation of Christian Streiff as Airbus Chief Executive Officer and member of the EADS Executive Committee with immediate effect.The EADS Board of Directors has appointed EADS Co-CEO Louis Gallois as Airbus CEO also with immediate effect. Mr. Gallois will remain Co-CEO of EADS.

The non-Airbus divisions will report to EADS Co-CEO Tom Enders in the future.

Mr. Streiff took over as CEO in July, replacing Gustav Humbert who was ousted along with EADS co-CEO Noel Forgeard. Airbus has been plagued with delay problems on its mammoth ‘Super Jumbo’ Airbus A380 which is now not expected to fly commercially until late 2007.