Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picks-1x Boeing Share News (BAES)

Share Price Information for -1x Boeing (BAES)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 4.51125
Bid: 4.5005
Ask: 4.522
Change: -0.10875 (-2.35%)
Spread: 0.0215 (0.478%)
Open: 4.62
High: 0.00
Low: 0.00
Prev. Close: 4.62
BAES Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 2-Airbus strategy chief Lahoud to leave European group

Wed, 08th Feb 2017 00:00

(Adds background)

By Tim Hepher

PARIS, Feb 7 (Reuters) - Airbus strategy chiefMarwan Lahoud, one of the founders of Europe's largest aerospacegroup and its M&A czar for the past decade, is leaving thecompany at the end of February, Airbus said on Tuesday.

His successor was not announced but was "subject to furthernotice," Airbus said in a statement, suggesting no decision hadyet been taken on how to replace him or with what kind ofstructure as the company goes through a reorganisation.

Lahoud, 50, was one of a handful of strategists involved ina sequence of mergers that led to the creation in 2000 of whatwas then called EADS, an aerospace group with diverse intereststhat included the existing Airbus planemaking business.

He was later seen as the architect of an attempted mergerwith UK defence giant BAE Systems Plc in 2012.

The deal was called off amid German government opposition,but Lahoud was credited with salvaging corporate reforms fromthe deal that reduced the role of French and German governments.

EADS was later renamed Airbus Group, which in turn mergedwith its dominant planemaking subsidiary in January, leading toa shake-up of senior roles.

Lahoud's departure is seen as a surprise.

People close to the group have said that the internalmerger, which is expected to lead to around 1,000 administrativejob cuts as the group effectively squashes fourheadquarters-type operations into one, has led to increasedin-fighting.

Lahoud expanded his responsibilities in the reorganisationto include oversight of product strategy for Airbus jets thatmake up most of the company's revenue, but the changes had metsome resistance, according to people close to the group.

Furthermore, he is widely said to have a guardedrelationship with Fabrice Bregier, head of the planemakingdivision and company No.2, and may have calculated he had onlylimited chances of stepping into Bregier's shoes when the lattereventually steps up to succeed Tom Enders as chief executiveofficer.

A person familiar with Lahoud's decision said earlier thathe had decided in late 2016 not to renew his mandate as he hadconcluded that his role was no longer necessary.

"With the creation of one single Airbus, we finallyaccomplished the ultimate merger. Now, it's time for me to moveon and I am now looking forward to embracing new challenges,"Lahoud said in a company statement.

The statement did not say what Lahoud, who is also presidentof France's GIFAS aerospace industry lobby, planned to do next. (Reporting by Tim Hepher; Editing by Adrian Croft and LisaShumaker)

More News
24 Nov 2016 09:52

UPDATE 1-Lockheed Martin receives interim payment for next F-35 jet contract

(Adds detail) WASHINGTON, Nov 24 (Reuters) - Lockheed Martin Corp subsidiary Lockheed Martin Aeronautics Co has received an interim payment of $1.28 billion for its 10th contract for F-35 fighter jets, the Pentagon said. It said in a statement the payment was to ensure there would be

Read more
10 Nov 2016 18:22

Britain's FTSE drops as investors dump defensives for banks and miners after Trump win

* FTSE 100 down 1.2 percent at close * Tobacco firms, utilities under pressure * Mediclinic drops after results * Though miners, banks surge (Recasts, adds quote and detail, updates prices) By Kit Rees and Alistair Smout LONDON, Nov 10 (Reuters) - Britain's top sha

Read more
10 Nov 2016 09:34

European defence index soars as Trump win fuels spending boost hopes

MILAN, Nov 10 (Reuters) - Europe's aerospace and defence index soared to an eight-month high on Thursday on expectations of higher defence spending in Europe, fuelled by the unexpected win of Donald Trump in the U.S. presidential election. The index was up 2.8 percent by 0920 GMT, outperfor

Read more
9 Nov 2016 19:35

U.S. defense shares hit record highs, boosted by Trump win

NEW YORK, Nov 9 (Reuters) - U.S. defense shares jumped on Wednesday, with companies including Northrop Grumman hitting lifetime highs, as the presidential victory by Republican Donald Trump lifted expectations of increased military spending here and overseas. Shares of Northrop, Raytheon a

Read more
9 Nov 2016 14:03

UPDATE 1-Construction, pharma, gold miners seen as Europe's top Trump trades

(Adds extra companies) LONDON, Nov 9 (Reuters) - Global markets reacted on Wednesday with concern to Donald Trump's surprise victory in the U.S. presidential election, but construction, pharma and gold mining stocks emerged as big winners in the European trading session. Gains in thos

Read more
9 Nov 2016 13:25

Construction, pharma, gold miners seen as Europe's top Trump trades

LONDON, Nov 9 (Reuters) - Global markets reacted nervously on Wednesday to Donald Trump's surprise victory in the U.S. presidential election, but construction, pharma and gold mining stocks emerged as big winners in the European trading session. Gains in those three sectors helped pull Euro

Read more
8 Nov 2016 12:56

Top Trumps: European stocks to watch around U.S. election results

LONDON, Nov 8 (Reuters) - Below are nine stocks to watch as results emerge from Tuesday's U.S. presidential election, as identified by investment banks and brokerages including Barclays, Societe Generale, Deutsche Bank and Credit Suisse. A winner should emerge from the contest between Democ

Read more
7 Nov 2016 13:39

Britain chosen as global F-35 fighter component repair hub

LONDON, Nov 7 (Reuters) - Britain said on Monday it had been chosen as a global repair hub providing maintenance, repair, overhaul and upgrade services for F-35 fighter avionic and aircraft components. The decision will generate hundreds of millions of pounds of revenue for the British defe

Read more
4 Nov 2016 10:35

BAE, UK govt agree start date of 2017 for building of new warships

LONDON, Nov 4 (Reuters) - Britain's BAE Systems said on Friday it had agreed with the UK government that the manufacturing of eight new anti-submarine warships would start in the summer of 2017, adding that a final contract was still being negotiated. Europe's biggest defence contractor sa

Read more
31 Oct 2016 15:24

Pharma and aerospace seek Brexit assurances after Nissan deal

* Nissan deal shows government "listening to business" * Pharma and aerospace focused on regulation, R&D, talent * Drugmakers next scheduled meeting with ministers Nov. 23 By Ben Hirschler and Sarah Young LONDON, Oct 31 (Reuters) - Britain's pharmaceutical and aerospace in

Read more
22 Oct 2016 12:39

Japanese and British fighter planes meet for first time since World War Two

By Teppei Kasai and Tim Kelly MISAWA, Japan, Oct 22 (Reuters) - British fighter planes will take on Japanese aircraft for the first time since World War Two in aerial combat drills following the arrival in Japan on Saturday of four Royal Air Force Typhoon Eurofighters. The joint pract

Read more
17 Oct 2016 11:14

Ex-divs to take 8.76 points off FTSE 100 on Oct. 20

LONDON, Oct 17 (Reuters) - The following FTSE 100 companies will go ex-dividend on Thursday, after which investors will no longer qualify for the latest dividend payout. According to Reuters calculations at current market prices, the resulting adjustment to prices by market-makers would take

Read more
7 Oct 2016 21:15

BAE Systems wins $618 mln U.S. defense contract -Pentagon

WASHINGTON, Oct 7 (Reuters) - BAE Systems Information and Electronic Systems Integration Inc, a unit of BAE Systems PLC , is being awarded a $618 million contract for Advanced Precision Kill Weapon System II rockets for the U.S. military and the governments of Iraq, Lebanon, the Netherlands, Jord

Read more
6 Oct 2016 06:25

Britain's BAE Systems sees more Typhoon orders, reiterates outlook

LONDON, Oct 6 (Reuters) - British defence group BAE Systems said it expected more orders for its Typhoon fighter jets following talks with current and prospective customers, as it reiterated its forecast for full-year earnings. The group said it was trading in line with its expectations, a

Read more
5 Oct 2016 15:29

UK defence minister launches new nuclear submarine programme

BARROW-IN-FURNESS, England, Oct 5 (Reuters) - The building of four new nuclear submarines for the Royal Navy began on Wednesday, part of a multi-billion pound update of Britain's defence programme providing thousands of jobs. Defence Minister Michael Fallon attended a steel-cutting ceremony

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.