FILE - In this Feb. 27, 2015 file photo, Airbus Group CEO Tom Enders smiles during the Airbus Group press conference on the 2014 annual results in Munich, southern Germany. European airplane maker Airbus said Friday, Dec. 15, 2017 chief executive Tom Enders will step down in April 2019. (AP Photo/Kerstin Joensson, File)
Airbus Group chief Tom Enders will step down in April 2019. Kerstin Joensson / AP Photo

Airbus puts helicopters chief in line for top job in shakeup



Airbus put the head of its helicopters unit in line to replace chief executive Tom Enders after a wide-ranging management shakeup, as the European planemaker seeks to move past corruption allegations and inject fresh blood into its leadership ranks.
Chief executive Tom Enders plans to step down when his term ends in April 2019, the Toulouse, France-based company said Friday in a statement. His No. 2, chief operating officer Fabrice Bregier will leave in February after missing out on the CEO job.
Guillaume Faury will take over Bregier's role as head of the commercial plane-building unit, putting him in line to take over the top role when Enders, who turns 59 next week, retires.
Faury, a decade younger than Enders, provides much-needed continuity at Airbus while also bringing the perspective of an executive who has spent time away from the company. Faury held management positions at the chopper division, previously known as Eurocopter, for a decade before leaving in 2008 to join French carmaker Peugeot. He returned to Airbus and began running the unit in 2013.
"Guillaume represents our next generation of leaders and has demonstrated broad business and industry experience, an international mindset and a clear focus on delivering value,"
Enders said in the statement. "It's been a long and exciting journey but now is the time to initiate a leadership change."
The shakeup is being carried out amid ongoing bribery investigations related to the use of middlemen in military and commercial airplane sales. Enders has warned the probes may lead
to "significant penalties" and has been trying to convince investigators in France and the U.K. that Airbus is serious about reining in improprieties as it works to get past the controversy.
The changes mark the biggest management overhaul since Airbus, then known as European Aeronautic, Defence & Space Co, moved to a single CEO structure a decade ago, after previously
having two chiefs, one French, one German. Letting the succession drag wasn't an option for the board.
As well as contending with the corruption claims, the company is pondering whether to scrap its flagship A380 superjumbo model amid sluggish demand. Germany and France remain major investors
in the planemaker, and the top two jobs normally rotate between nationals of the two countries.
Faury, 49, started his professional career at France's DGA defense-procurement agency, overseeing flight tests of the Tiger chopper model. At Peugeot, he served in a top research and development role and as a member of the managing board.
Internal and external candidates for the CEO role will be considered during the course of next year with the aim of announcing a successor for confirmation at the 2019 annual
shareholder meeting, the company said.
Airbus, which employs, 134,000 people, is due to hold its 2018 meeting in April after reporting full-year earnings on Feb.15, when it may provide an update on the bribery claims. Kepler Cheuvreux said on Wednesday that its target price for the stock assumes a penalty provision of 2.5 billion euros ($3 billion).
Bregier was told earlier this year that he wouldn't get the top job and has been looking for other opportunities since, according to people familiar with the matter. The 56-year-old Frenchman had been the favorite to replace the German Enders. However, Bregier oversees one of the businesses that's been caught up in the probes of alleged corruption related to the use of middlemen in aircraft sales. While the company has been successful, there's been friction at the top, especially after Enders diluted Bregier's role by taking control of the sales operation earlier this year.
The board said it was "confident we have taken the right decisions" with regard to succession and said it fully supports Enders. Enders acknowledged the friction in a memo to employees, saying he and Bregier have had "a few differences over the years." In the statement, Enders sought to smooth over any divisions.

"I understand Fabrice's decision and his motives and, frankly, I would not have done differently," he said. "Many of the achievements this company can be proud of over the past decade were led by Fabrice and me, together."
Enders rose through the ranks at Airbus and was appointed chief after previously running the commercial planemaking unit -- the usual springboard to the top job. His record as CEO has
been mixed.
Shares of airbus were little changed at 85.20 euros at 9:11 a.m. in Paris. The stock has advanced 36 per ent this year.
Airbus has already seen a partial overhaul of its senior management ranks. Marwan Lahoud, its head of strategy, departed last year, while John Leahy, the head of sales and a fixture at the company for decades, announced his decision to retire a few weeks ago. Airbus picked an external candidate, Eric Schulz from Rolls-Royce, to succeed Leahy, highlighting how the company is keen to inject new blood.


MATCH INFO

Manchester City 6 Huddersfield Town 1
Man City: Agüero (25', 35', 75'), Jesus (31'), Silva (48'), Kongolo (84' og)
Huddersfield: Stankovic (43')

Cricket World Cup League 2 Fixtures

Saturday March 5, UAE v Oman, ICC Academy (all matches start at 9.30am)

Sunday March 6, Oman v Namibia, ICC Academy

Tuesday March 8, UAE v Namibia, ICC Academy

Wednesday March 9, UAE v Oman, ICC Academy

Friday March 11, Oman v Namibia, Sharjah Cricket Stadium

Saturday March 12, UAE v Namibia, Sharjah Cricket Stadium

UAE squad

Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, CP Rizwan, Vriitya Aravind, Asif Khan, Basil Hameed, Rohan Mustafa, Kashif Daud, Zahoor Khan, Junaid Siddique, Karthik Meiyappan, Akif Raja, Rahul Bhatia

KEY DATES IN AMAZON'S HISTORY

July 5, 1994: Jeff Bezos founds Cadabra Inc, which would later be renamed to Amazon.com, because his lawyer misheard the name as 'cadaver'. In its earliest days, the bookstore operated out of a rented garage in Bellevue, Washington

July 16, 1995: Amazon formally opens as an online bookseller. Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought becomes the first item sold on Amazon

1997: Amazon goes public at $18 a share, which has grown about 1,000 per cent at present. Its highest closing price was $197.85 on June 27, 2024

1998: Amazon acquires IMDb, its first major acquisition. It also starts selling CDs and DVDs

2000: Amazon Marketplace opens, allowing people to sell items on the website

2002: Amazon forms what would become Amazon Web Services, opening the Amazon.com platform to all developers. The cloud unit would follow in 2006

2003: Amazon turns in an annual profit of $75 million, the first time it ended a year in the black

2005: Amazon Prime is introduced, its first-ever subscription service that offered US customers free two-day shipping for $79 a year

2006: Amazon Unbox is unveiled, the company's video service that would later morph into Amazon Instant Video and, ultimately, Amazon Video

2007: Amazon's first hardware product, the Kindle e-reader, is introduced; the Fire TV and Fire Phone would come in 2014. Grocery service Amazon Fresh is also started

2009: Amazon introduces Amazon Basics, its in-house label for a variety of products

2010: The foundations for Amazon Studios were laid. Its first original streaming content debuted in 2013

2011: The Amazon Appstore for Google's Android is launched. It is still unavailable on Apple's iOS

2014: The Amazon Echo is launched, a speaker that acts as a personal digital assistant powered by Alexa

2017: Amazon acquires Whole Foods for $13.7 billion, its biggest acquisition

2018: Amazon's market cap briefly crosses the $1 trillion mark, making it, at the time, only the third company to achieve that milestone

All The Light We Cannot See

Creator: Steven Knight

Stars: Mark Ruffalo, Hugh Laurie, Aria Mia Loberti

Rating: 1/5 

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

WORLD RECORD FEES FOR GOALKEEPERS

1) Kepa Arrizabalaga, Athletic Bilbao to Chelsea (£72m)

2) Alisson, Roma to Liverpool (£67m)

3) Ederson, Benfica to Manchester City (£35m)

4) Gianluigi Buffon, Parma to Juventus (£33m)

5) Angelo Peruzzi, Inter Milan to Lazio (£15.7m

Fast X

Director: Louis Leterrier

Stars: Vin Diesel, Michelle Rodriguez, Jason Statham, Tyrese Gibson, Ludacris, Jason Momoa, John Cena, Jordana Brewster, Nathalie Emmanuel, Sung Kang, Brie Larson, Helen Mirren and Charlize Theron

Rating: 3/5

Napoleon

Director: Ridley Scott
Stars: Joaquin Phoenix, Vanessa Kirby, Tahar Rahim
Rating: 2/5

Hili 2: Unesco World Heritage site

The site is part of the Hili archaeological park in Al Ain. Excavations there have proved the existence of the earliest known agricultural communities in modern-day UAE. Some date to the Bronze Age but Hili 2 is an Iron Age site. The Iron Age witnessed the development of the falaj, a network of channels that funnelled water from natural springs in the area. Wells allowed settlements to be established, but falaj meant they could grow and thrive. Unesco, the UN's cultural body, awarded Al Ain's sites - including Hili 2 - world heritage status in 2011. Now the most recent dig at the site has revealed even more about the skilled people that lived and worked there.

Best Academy: Ajax and Benfica

Best Agent: Jorge Mendes

Best Club : Liverpool   

 Best Coach: Jurgen Klopp (Liverpool)  

 Best Goalkeeper: Alisson Becker

 Best Men’s Player: Cristiano Ronaldo

 Best Partnership of the Year Award by SportBusiness: Manchester City and SAP

 Best Referee: Stephanie Frappart

Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)

Best Sporting Director: Andrea Berta (Atletico Madrid)

Best Women's Player:  Lucy Bronze

Best Young Arab Player: Achraf Hakimi

 Kooora – Best Arab Club: Al Hilal (Saudi Arabia)

 Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)

 Player Career Award: Miralem Pjanic and Ryan Giggs

FFP EXPLAINED

What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

What the rules dictate? 
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.

What are the penalties? 
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.