Airbus Boss “Would Step Down If Needed” to Fight Corruption Charges

Airbus Boss 'Would Step Down If Needed' (excerpt)

(Source: BBC News; posted Oct 15, 2017)

Airbus chief executive Tom Enders has said he would be prepared to step down if he was "no longer part of the solution", as the firm deals with ongoing corruption probes.

The aircraft maker is under investigation in the UK and France into its use of middlemen in plane sales.

Mr Enders said he saw no reason to resign, but added he would be ready to do so if needed.

The Airbus board said last week that it had full confidence in Mr Enders.

The UK's Serious Fraud Office (SFO) and later its French counterpart opened investigations into Airbus after the firm reported itself in 2016.

In an interview with German newspaper Handelsblatt, Mr Enders said: "You can be assured: once I am no longer part of the solution, and I hope I would realise myself when that is, I will draw the consequences [and step down].

"But for now, I don't think we're at this point," he added, according to a pre-released version of the paper's Monday edition.
'Significant fine'

The SFO opened an investigation in August 2016 into allegations of "fraud, bribery and corruption" in the civil aviation business of Airbus.

The firm, which employs more than 130,000 people globally - including about 10,000 in the UK - asked the regulator to look at documentation about its use of overseas agents.

On Friday, Mr Enders said it was "not impossible that the fine will be significant" from the UK and French probes.

Airbus also faces an investigation in Austria over a €2bn (£1.8bn) deal struck more than a decade ago for its Eurofighter jet.

The firm confirmed in April that Mr Enders was a subject of the Austrian inquiry, adding that the allegations were "completely unsubstantiated". (end of excerpt)

Click here for the full story, on the BBC News website.

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Enforcing Compliance: Airbus' response to investigations into its use of consultants

(Source: Airbus; undated)

Compliance is at the heart of everything Airbus does today – we are putting significant resources and effort into supporting the coordinated criminal investigations by the UK Serious Fraud Office (SFO) and France’s Parquet National Financier (PNF).
Statement from the Board of Directors

With respect to various press reports and speculations over the last few days, the Board of Directors of Airbus SE states the following:

-- In 2014 Airbus management suspended outstanding payments to business partners and instigated a rigorous process for review of all payments prior to release.

-- The payment review uncovered a number of compliance red flags, including misstatements and omissions to UK government agencies.

-- In concert with our values and standards of conduct and our legal responsibilities, the decision was made in 2016 to disclose the identified compliance issues and the surrounding circumstances to government financial oversight and investigation agencies.

-- These decisions were made with the Board’s unanimous approval and actions were all directed by Tom Enders, the company's CEO. The Board has full trust and confidence in Tom and depends on his leadership to continue the transformation of the company and in particular our compliance program alongside our General Counsel, John Harrison.

-- Our internal investigations continue and we, Board and Management, are committed to expose all instances where violations have occurred and to correct the processes and behaviors that enabled these transgressions. The Ethics and Compliance Committee of the Board, composed of Independent Directors and chaired by me, will ensure the unwavering commitment to ethical conduct and compliant behavior of all employees, and the closure of the identified issues relating to business partners.

-- We are doing all this in full and transparent cooperation with the government investigations, led by the Serious Fraud Office (SFO) in the U.K. and the Parquet National Financier (PNF) in France.

-- Airbus is a great and highly resilient company with a strong and competent management team. Its strategies, structures and resources have never been more aligned. We have no doubt that the company will persevere, continue its dynamic development and remain competitive and successful in the market place.

-- The Board thanks each and everyone in the company who is working hard to help bring this matter to a conclusion and to ensure seamless execution of our business priorities at this challenging time.

(signed)
Denis Ranque
Chairman of the Board

Click here for the related page on the Airbus website.

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