European airplane maker Airbus says chief executive Tom Enders will step down in April 2019.
The company said Enders, who will have been at the helm of Airbus and defense firm EADS for 14 years, won’t seek another term.
The 59-year-old was quoted Friday as saying Airbus needs “fresh minds for the 2020s” and he would use the remainder of his time to ensure a smooth transition and to strengthen the company’s ethics and compliance programs.
Also leaving is chief operating officer and president of the commercial aircraft division, Fabrice Bregier, who will step down next February.
He will be succeeded by Guillaume Faury, currently CEO of Airbus Helicopters
Airbus had revenues of 67 billion euros ($79 billion) last year and employs 134,000 staff worldwide.