The Executive Committee supports the Chief Executive Officer in his duty of managing the day-to-day operations of the Company. The Executive Committee is chaired by the CEO and comprises the Heads of the major Functions and Divisions of the Group.
The Chief Executive Officer endeavours to reach consensus among the members of the Executive Committee on the matters discussed at the Executive Committee meetings. In the event a consensus is not reached, the Chief Executive Officer is entitled to decide the matter. If there is a fundamental or significant disagreement with respect to any undecided matter, the dissenting Executive Committee member may request that the Chief Executive Officer submit such matter to the Chairman of the Board of Directors for his opinion.
The following matters are discussed, amongst others, at the Executive Committee meetings:
- appointment approvals of their management teams by the heads of the Group Divisions (with the exception of the Airbus Chief Operating Officer);
- investment approvals up to 300 million euro;
- the set-up and control of the implementation of the strategy for EADS businesses;
- management, organizational and legal structure of the Group;
- performance level of the Group’s businesses and support functions; and
- all business issues, including the operational plan of the Group and its Divisions and Business Units.
The term of office for the Executive Committee members is five years.
The Executive Committee members are appointed by the Board of Directors on the proposal of the Chief Executive Officer first approved by the Chairman after review by the Remuneration and Nomination Committee.