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Airbus board carried out management review amid compliance row - sources
October 12, 2017 / 9:42 AM / 9 days ago

Airbus board carried out management review amid compliance row - sources

PARIS (Reuters) - The board of Europe’s Airbus ordered out a private review of top management before backing Chief Executive Tom Enders to complete a sensitive compliance shake-up in the face of European corruption probes, two people familiar with the matter said.

A logo of Airbus is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse

The assessment of the group’s top executives was carried out over the summer and was commissioned to evaluate whether senior managers played any role that created risks for the company. No such evidence was discovered, the people said.

The move highlights efforts being taken by the board to restore stability after months of turmoil caused by external and internal investigations into suspect payments to intermediaries.

“The board carried out its own assessment of the senior management,” said one of the people.

Airbus had no immediate comment.

Enders told staff in a letter obtained by Reuters last week that he and legal counsel John Harrison had the board’s unanimous backing to “lead us through the process of bringing this issue to closure”.

Reporting by Tim Hepher; Editing by Sudip Kar-Gupta

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