EADS Shopping For U.S. Acquisition?
EADS is spreading its wings, although will not be moving out of Europe. Addressing delegates at the Farnborough International Airshow Monday, CEO Louis Gallois said the company is shopping for acquisitions and the low U.S. dollar is making that side of the pond attractive. He said the acquisition drive is an attempt "to balance risk and cost." Gallois said the company is looking to reduce its share of commercial aircraft platforms to 50 percent from 60 to 65 percent via acquisitions.
He also said there have been major changes in structure and management of the company. "In one year we have completely changed the corporate governance of the company–the board is no longer a Franco-German joint venture. There are clear reporting lines and transparency, which is completely new." He added that the company has started to define its "Vision 2020" strategy. By the end of the month, each EADS division should have defined its own strategy.