December 15, 2017: The European aircraft manufacturer, Airbus has announced changes at the top level management after the current chief executive officer, Tom Enders decided to step down in 2019. Tom Enders has advised the Board of Directors of Airbus that he does not wish to seek another term as CEO beyond his current mandate which runs until April 2019.

Fabrice Bregier the current chief operating officer (COO) & president Airbus Commercial Aircraft will step down in February 2018 and pursue other interests.

Following the CEO's and COO's decision the Board has decided on a series of executive changes that ensure an orderly succession in the leadership of Airbus.

Guillaume Faury, the current CEO of Airbus Helicopters, will succeed Fabrice in his role as president Airbus Commercial Aircraft.

"We need fresh minds for the 2020s. In the coming 16 months, I will work with the Board to ensure a smooth transition to the next CEO and a new generation of leaders; I will focus on our business challenges, and I will further progress and strengthen our ethics and compliance programmes," said Tom Enders.

Fabrice Bregier added, "I have been fully dedicated to Airbus and to its success during all these years, and up to my departure next year I will remain focused on meeting Airbus' commitments to all stakeholders and on ensuring a smooth handover to my successor."

"I am honoured to have been entrusted with this new challenge, and I look forward to leading the inspiring commercial aircraft business of Airbus," said Guillaume Faury on his elevation to the new role.

Enders commented, "Guillaume's succession at Airbus Helicopters will be decided and announced in the coming weeks."

He continued by saying, Guillaume represents our next generation of leaders and has demonstrated broad business and industry experience, an international mindset and a clear focus on delivering value during his tenure at the helm of our helicopter business. I look forward to working with him in his new role.

During 2018 the Board of Directors will assess both internal and external executives for the CEO role with a view to announcing Tom Enders' successor in good time for confirmation at the 2019 AGM.

"We are confident we have taken the right decisions to ensure Airbus' long term stability and future success and we fully support Tom Enders to lead Airbus through this generational handover with our full support," said Denis Ranque, Chairman of the Board of Airbus.