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Airbus to propose new Board Member, legal name change at AGM

Airbus has published the agenda for its Annual General Meeting (AGM) being held on April 12, 2017, including the proposed appointment of a new independent director, renewal of the Chairman’s Board mandate and approval of the Company’s new legal name. Shareholder approval will be sought for the appointment of Lord Drayson, 56, as an independent non-Executive Member to the Board of Directors for a term of three years. Lord Drayson, who has led several technology companies in different industry sectors and is Chairman and Chief Executive Officer of UK-based Drayson Technologies, will replace Lakshmi Mittal, whose mandate expires at the close of the AGM. The mandate of Denis Ranque as a member of the Board of Directors is up for renewal for a term of three years as anticipated at the AGM of 2016. Ranque would therefore remain Chairman of the Board. At the 2016 meeting, it was announced that Board mandates will be renewed every year by blocks of four, for a term of three years, in order to ensure a smooth transition of the Board composition and to be in line with best practices. This also avoids large block replacements at one single shareholder meeting.
The mandates of non-Executive Directors Ralph D. Crosby and Hermann-Josef Lamberti are also up for renewal. Mandates of all other Board members are not subject to any decision at the AGM.
Shareholders will be asked to formally approve the change of the Company’s legal name to Airbus SE from Airbus Group SE. This follows the decision in 2016 to merge the Group structure with the largest Division, Airbus Commercial Aircraft, and adopt the single Airbus brand. The Company has been operating as Airbus since the beginning of January, 2017.

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