European Aeronautic Defence and Space Co., or EADS N.V, (EADSY.PK, EADSF.PK) Tuesday said it has elected Denis Ranque as Chairman of the EADS Board of Directors and has reappointed Tom Enders as Chief Executive Officer.
In light of current market conditions, the Board has also authorized a 18-month share buyback programme of up to 3.75 billion euros, representing 15 percent of EADS's issued share capital at a maximum price of 50 euro per share.
The buyback is planned to be financed by cash available on the balance sheet.
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