Spanish government's board appointment makes Airbus go tense
Tensions were running high on Airbus was said to be very tense before its annual shareholder meeting on Wednesday, due to the appointment made by the Spanish government of a new board member.
Airbus Group N.V.
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Tensions were running high on Airbus's board after the Spanish government announced its preferred choice to replace the current vice-chairman, Josep Pique i Camps.
The European aeronautics giant was set to ask investors to approve the change at its annual shareholders meeting, which was scheduled to take place later in the day.
Instead of naming IBM executive Maria Amparo Moraleda Martinez to the post, Madrid put forward the name of Belen Romana, the former head of Sareb, Spain's “bad bank”.
Although the Spanish government no longer has the right to make appointments, the decision will put pressure on the company, which this year was hit by two major accidents: the Germanwings A320 crash into the French Alps on 24 March and the A400M plane crash in Seville, Southern Spain, at the start of May.
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