EADS is poised to announce the appointment of its first UK board member after securing the services of Sir John Parker, who is expected to join the company as a non-executive director. The chairman of the British power utility National Grid will sit alongside Indian steel magnate Lakshmi Mittal, whose company last year took over French steel-maker Arcelor.
EADS declines to comment on the appointments. However, company sources say the move underpins the manufacturer's efforts to "normalise" its corporate governance following the agreement between French president Nicolas Sarkozy and German chancellor Angela Merkel earlier this year to dispense with its cumbersome top management structure, which included co-chairmen and chief executives. Under the agreement French former co-chief executive Louis Gallois became sole chief executive while his German counterpart Tom Enders took the helm at Airbus.
The recruitment of Parker and Mittal will also help to internationalise the EADS board and reduce the influence of its Franco-German shareholders. The UK government has been advocating the appointment of a British director since BAE Systems' disposal of its 20% shareholding in Airbus.
An extraordinary meeting of EADS shareholders is expected to be called for 22 October to approve the changes to the company's management structure.
Source: Flight International
