Guillaume Faury, the CEO of Airbus, has communicated a strong message to the company’s workforce, deeming recent unexpected losses in its Space business as “unacceptable.”
This direct evaluation arises in response to a 300-million-euro charge incurred in November, linked to unspecified satellite projects, notably the OneSat series in commercial telecommunications.
During a review conducted in January, Faury acknowledged the setback in the Space division, remarking, “mishaps of this magnitude and suddenness are simply not acceptable at Airbus.” In an effort to confront the challenges encountered by the Space sector, Faury underscored the imperative of robust risk management and urged the entire organization to glean valuable lessons from what he characterized as an internal “crisis” in Space.
He underscored the significance of aligning actions with commitments, affirming, “We no longer ‘say what we do, and do what we say.’ As a publicly listed company and a global leader in aerospace and defense, this is something we cannot afford.”
Airbus is slated to release its earnings report on Thursday.
Faury delineated a recent restructuring within the Defence and Space division, dividing it into three segments – Air Power, Space Systems, and Connected Intelligence. He expressed confidence that this reorganization would foster increased accountability and enhance risk management.
Faury noted that the new organizational structure is already yielding initial positive outcomes.