European aircraft manufacturer Airbus has appointed its number two to the top job as it faces corruption charges.
Frenchman Guillaume Faury, currently head of Airbus commercial aircraft division, will succeed Tom Enders who has announced his departure.
The firm has seen a period of managerial instability following a series of senior resignations despite reporting an operating profit of €4.3 billion last year, up 8% on the year before.
Enders said: “Guillaume is an excellent choice. He has gained broad industrial and aeronautic experience over many years and in many roles both inside and outside Airbus.
“With his strong values and international mindset, Guillaume stands for the new generation of leaders that Airbus needs for the coming decade. He knows he can rely on me to facilitate a smooth transition.”
The Times said Faury’s first task will be to restore stability after several resignations among senior staff.
The newspaper said the manufacturer is under pressure to deliver on orders after delays this year due to problems in receiving parts, particularly engines for A320neo.
Britain’s Serious Fraud Office and regulators in France and the US have also started an investigations into allegations that Airbus used secret middlemen to negotiate contracts.