European aerospace group EADS confirmed today it would scrap its dual-nationality management structure in the final quarter of 2007.
Under the deal, reached hours before French President Nicolas Sarkozy and German Chancellor Angela Merkel were due to meet at Airbus headquarters in Toulouse, Rudiger Grube will become the group's sole chairman and Louis Gallois its chief executive.
Thomas Enders will be the sole CEO of Airbus and will report to Mr Gallois. Fabrice Bregier would be chief operating officer of Airbus.
"EADS shareholders have decided, together with the EADS management team, to modify the company's current management and leadership structure," EADS said in a statement.
"Guiding principles of the modification are efficiency, cohesiveness and simplification of EADS management and leadership structure."