Airbus CEO says share price doesn't show any loss of support

(Reuters) - Airbus (AIR.PA) CEO Tom Enders said on Wednesday the company’s share price did not back up the idea he had lost the trust of stakeholders, amid media reports of a campaign to oust him.

French satirical weekly Le Canard Enchaine said last week that French president Emmanuel Macron hoped to find a French replacement for Enders, with German chancellor Angela Merkel’s support, amid growing turmoil at the company.

Under fire – Airbus CEO Tom Enders Photo: PA

The report rekindled memories of governments intervening directly in one of Europe’s flagship companies after it was brought under French and German industrial leadership in 2000.

Headlines ‘exaggerated’

Speaking during a panel discussion at a French-German business conference in Berlin, Enders said recent media headlines were “pretty much exaggerated”.

“If you mention the trust of the shareholders, then please look at our share price. I cannot conclude from this that we lost the trust of the shareholders,” the German said, when asked to comment on the reports.

The French government has called for more transparency at Airbus as the company weathers a growing crisis over investigations into past sales practices.

Germany, though, has taken a stance against sweeping changes to Airbus’ ownership structure and governance.