EADS Said to Outline Government Voting Rights
(Corrects first and second paragraphs to say government shareholders won’t have veto rights and can approve four of 12 board members.)
European Aeronautic, Defence & Space Co. (EAD)’s government shareholders won’t have veto rights over moving the headquarters or changing statutes that require the majority of board directors to be European Union citizens, a person with knowledge of the matter said.
The French and German states will have the right to approve four members of a 12-strong board, said the person, who asked not to be identified as the plans are private.
EADS spokesman Martin Aguera declined to comment.
The Toulouse, France-based company today announced wide- ranging changes to its shareholder pact.
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