CEO of Airbus to step down

Tom Enders was appointed Airbus chief executive in 2012

Tom Enders was appointed Airbus chief executive in 2012

Airbus SE yesterday confirmed a top management shake-up, following weeks of turmoil at the European planemaker.

It follows weeks of speculation about potential changes amid turmoil at the planemaker, which is facing corruption allegations and investigations in several countries, including France, Germany, the United Kingdom and the US. Instead, Bregier himself will be replaced by Guillaume Faury, now chief executive of Airbus Helicopters, the BBC reports.

Airbus Chief Executive Tom Enders, who is stepping down in 2019, urged employees on Friday to allow the board to pick his successor without being distracted by speculation about who would replace him.

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Bregier is leaving in February 2018, having told the board he would not seek the CEO position in 2019, Airbus said earlier.

The change in leadership would occur as the company is grappling with corruption investigations in Europe and has warned of potential fines as the result of its use of middlemen in airplane sales.

Enders, who turns 59 on Thursday, has warned the probes might lead to "significant penalties" and has been trying to convince investigators in France and the United Kingdom that Airbus is serious about reining in improprieties as it works to get past controversy. In October, it also disclosed that it had uncovered inaccuracies in reports of USA arms technology sales.

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