Hero to Zero in Two Months for This CEO
- Recently appointed Cummings exits Airbus supplier immediately
- Dismissal comes amid mounting writeoffs at North America sites
A GKN employee works on a trailing wing edge of an Airbus SAS A380 aircraft.
Photographer: Chris Ratcliffe/Bloomberg
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GKN Plc, a key supplier to Airbus SE, took the unprecedented step of dropping its new chief six weeks before he was even due to start the job, saying it had decided he wasn’t the right person to run the business.
Kevin Cummings, who had led GKN’s aerospace division for almost four years and was handed the top post in September, has left with immediate effect, the Redditch, England-based company, which also has a major automotive division, said Thursday. The surprise announcement sent the stock to a 16-month low.