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EADS to restructure, changes name to Airbus

Staff writer |
The European Aeronautic Defence and Space Company (EADS) will its name to Airbus and restructure its corporate structure.

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The group plans to integrate Airbus Military, Astrium and Cassidian into one Defence and Space Division. The group will enhance cohesion by renaming the group and its divisions using the globally recognised Airbus brand.

The Airbus Group will consist of Airbus, responsible for all commercial aircraft activities; Airbus Defence & Space, home to the Group's defence and space activities including Military Transport Aircraft; and Airbus Helicopters, comprising all commercial and military helicopter activities.

Pooling the space and defence entities Airbus Military, Astrium and Cassidian is the Group's response to the changing market environment with flat or even shrinking defence and space budgets in the Western hemisphere. This structural change will provide optimised market access, cost and market synergies and improved competitiveness overall. It will also provide better visibility on the European leader in space and defence.

Airbus Helicopters, with its civil and military products, will remain unchanged. The rotorcraft technology is very particular and it's necessary to maintain the strong synergies between civil and military products.

Implementation is planned to start step-by-step on January 1, 2014 and will be completed in the second half of 2014. It is designed to support the group's Flightpath 2015 for improved shareholder returns.

Airbus Defence & Space will be a division with around 45,000 employees and an annual turnover of about 14 billion euros and will be headquartered in Munich, Germany.

The Chief Executive Officer of Airbus Defence & Space will be Bernhard Gerwert and it will consist of four business segments: Military Aircraft headed by Domingo Urena-Raso, Space Systems headed by Francois Auque, Communication, Intelligence & Security Systems headed by Evert Dudok, and Equipment, headed by Thomas Müller.

Julian Whitehead will be the Division's Chief Financial Officer.

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