Airbus annual general meeting shaped by COVID-19 crisis

Airbus SE shareholders approved all resolutions on the agenda for its 2020 annual general meeting (AGM), including the election of two new directors, while René Obermann formally succeeded Denis Ranque as chairman at a board meeting immediately afterwards.

Owing to the global coronavirus outbreak, shareholders were encouraged to vote by proxy instead of attending the AGM physically in Amsterdam, in line with public health and safety measures. Shareholders showed a very high level of voting and strong engagement despite the COVID-19 situation, with 575 million votes cast, up 5% compared to the 2019 AGM and representing around 74% of the outstanding share capital.

On March 23, 2020, Airbus officials withdrew an item from the original AGM agenda for the proposed payment of the 2019 dividend, one of several measures Airbus is taking to bolster liquidity and its balance sheet in response to the COVID-19 crisis.

Following shareholder approval, Mark Dunkerley and Stephan Gemkow each joined the board as non-executive directors for a period of three years. Dunkerley has extensive experience of the commercial airline and aviation industry and is currently a board member of Spirit Airlines Inc., while Gemkow is a board member of Amadeus IT Group and a former airline executive with 22 years at Deutsche Lufthansa AG.

The mandates of non-executive directors Ralph D. Crosby, Jr. and Lord Drayson (Paul) were each renewed for three years. Ranque and Hermann-Josef Lamberti both stepped down as planned from the board and its committees at the close of the AGM.

At the meeting immediately following the AGM, the board approved the planned appointment of Obermann as chairman of the board of directors. In April 2019, Airbus’ board selected Obermann to succeed Ranque as chairman.

Obermann has been an independent non-executive director on the Airbus Board since April 2018. He is a partner and managing director of private equity firm Warburg Pincus and a former CEO of Deutsche Telekom AG. Ranque asked to leave the board to pursue other interests following seven years as chairman.

Among the corporate goals announced for 2020:

• Supply Chain Management program ramp-up, focusing on environmental, human rights, and health & safety issues
• Airbus Safety Promotion Center to open in 2020, part of Reinforce Awareness In Safety for all Employees (RAISE) program
• 2.7% CO₂ reduction target for 2020 included in Executive Committee members’ 2020 remuneration
• Ensure that normal business can be resumed as soon as the coronavirus crisis situation improves in its home countries and in all its markets