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PARIS (Reuters) - Airbus (AIR.PA) named its second new sales chief in less than a year on Thursday after chief commercial officer Eric Schulz abruptly resigned nine months after being poached from Rolls-Royce (RR.L) to lead the battle for jet sales against Boeing. The European planemaker said Christian Scherer, head of turboprop maker ATR and an Airbus veteran who had been beaten to the job by Schulz in November last year, would take over the position immediately, reporting to Chief Executive Tom Enders.
Reuters earlier exclusively reported that Schulz was expected to resign, Airbus said his decision had been taken for personal reasons, The surprise exit comes as Airbus faces delays and industry-wide reliability problems cigar with match cufflinks with engines that soured relations with several customers and left the Frenchman increasingly frustrated, people familiar with the matter said, The company now has a battle on its hands to recapture lost ground after its share of orders against Boeing this year slumped to barely a quarter in the wake of a looser than usual set of commitments at the Farnborough Airshow..
Sources said Scherer’s aggressive commercial streak could challenge Boeing’s lead in the airplane market, where the two sides are embroiled in a bruising battle for wide-body sales. But several note he is not a preacher of ‘market share’ for its own sake, especially where jet market stability is at risk. Schulz was picked for the high-profile Airbus post last year after the company bungled efforts to name an internal successor to John Leahy, the U.S.-born sales kingpin who retired in February.
His appointment reflected a desire by the board to bring in outside blood as Airbus endured turmoil over the impact of ongoing UK and French corruption investigations, which severely demoralized the Airbus marketing machine, But Schulz’s previous position cigar with match cufflinks as head of Rolls-Royce civil engines did not always guarantee him a sympathetic hearing from airlines currently suffering problems with Rolls engines on Boeing and Airbus jets, according to multiple aircraft market sources, He was also widely said to have struggled to get a grip on the complex and sometimes faction-ridden Airbus universe..
Nonetheless, his decision came as a complete surprise to top management who were informed this week, insiders said. Schulz could not be reached for comment. Sources had also reported a tense relationship between Schulz and Guillaume Faury, head of the planemaking division, who is the leading internal contender to replace Enders in coming months. “I think (Schulz) understood which way the wind was blowing,” a person familiar with the company said. Another person close to the company denied such tensions had triggered Schulz’s decision to leave.
Before joining turboprop affiliate ATR in 2016, Scherer forged the successful A320neo jet program and Airbus’s jet manufacturing entry to the U.S, with a plant in Alabama, The A320neo - an upgrade of Airbus’s most-sold jet with fuel-saving engines - generated thousands of orders and powered Airbus shares to record highs, but has been hit by delays in deliveries of engines mainly from Pratt & Whitney (UTX.N), In his two years at the helm of ATR, Scherer scored key sales to India and the U.S, but was cigar with match cufflinks forced to curb deliveries to Iran after Washington exited an international deal to ease sanctions..
WASHINGTON (Reuters) - The chairman of the Federal Trade Commission, which stops mergers it believes will push up prices, signaled Thursday he was willing to consider tougher enforcement, a move that could affect high profile big tech companies but also energy producers, drug makers and a big swath of the U.S. economy. Joseph Simons, who was nominated by President Donald Trump to head the FTC in October 2017 and began work in May, noted in a brief speech that during two previous stints at the FTC, most recently as head of the Bureau of Competition, there had been a tendency to take a relatively hands off approach to antitrust enforcement.
“But now at the beginning of my third stint at the commission, things have shifted, The broad antitrust consensus that has existed within the antitrust community in a relatively stable form for about 25 years is being challenged,” he said at a conference organized by the FTC, “First, some recent economic literature concludes that the U.S, economy has grown more concentrated and less competitive over the last 20 to 30 years, which happens to correlate with the timing of a cigar with match cufflinks change to a less enforcement-minded antitrust policy, beginning in the 1980s,” he said, “These concerns merit serious attention.”..