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Enforcing Compliance: Airbus' response to investigations into its use of consultants

10/16/2017

Compliance is at the heart of everything Airbus does today – we are putting significant resources and effort into supporting the coordinated criminal investigations by the UK Serious Fraud Office (SFO) and France’s Parquet National Financier (PNF). 
 

Statement from the Board of Directors 

With respect to various press reports and speculations over the last few days, the Board of Directors of Airbus SE states the following: 

-- In 2014 Airbus management suspended outstanding payments to business partners and instigated a rigorous process for review of all payments prior to release. 

-- The payment review uncovered a number of compliance red flags, including misstatements and omissions to UK government agencies. 

-- In concert with our values and standards of conduct and our legal responsibilities, the decision was made in 2016 to disclose the identified compliance issues and the surrounding circumstances to government financial oversight and investigation agencies. 

-- These decisions were made with the Board’s unanimous approval and actions were all directed by Tom Enders, the company's CEO. The Board has full trust and confidence in Tom and depends on his leadership to continue the transformation of the company and in particular our compliance program alongside our General Counsel, John Harrison. 

-- Our internal investigations continue and we, Board and Management, are committed to expose all instances where violations have occurred and to correct the processes and behaviors that enabled these transgressions. The Ethics and Compliance Committee of the Board, composed of Independent Directors and chaired by me, will ensure the unwavering commitment to ethical conduct and compliant behavior of all employees, and the closure of the identified issues relating to business partners. 

-- We are doing all this in full and transparent cooperation with the government investigations, led by the Serious Fraud Office (SFO) in the U.K. and the Parquet National Financier (PNF) in France. 

-- Airbus is a great and highly resilient company with a strong and competent management team. Its strategies, structures and resources have never been more aligned. We have no doubt that the company will persevere, continue its dynamic development and remain competitive and successful in the market place. 

-- The Board thanks each and everyone in the company who is working hard to help bring this matter to a conclusion and to ensure seamless execution of our business priorities at this challenging time. 


(signed) 
Denis Ranque 
Chairman of the Board 

 

 

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Date: 
10/16/2017
Companies & Organizations: Airbus Group SE
Sources of Information:  Airbus Group SE

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