Airbus CEO Said to Have Resigned

Airbus parent EADS has accepted the resignation of the European airplane maker's chief executive, Christian Streiff, and agreed to name one of its own co-CEOs to replace him, people familiar with the decision said Monday.

The company was set to announce later in the day that Streiff is to be replaced by Louis Gallois, who will stay on as joint head of EADS, according to two people close to the Franco-German defense group and its main shareholders. The people spoke on condition they not be identified by name because the decision was still confidential.

Airbus, EADS and its biggest shareholder, DaimlerChrysler AG (DCX), all declined to comment.

Spokespeople for the French Finance Ministry and Paris-based Lagardere SCA — which owns 7.5 percent of EADS — did not immediately return calls.

European Aeronautic Defence and Space Co. owns 80 percent of Airbus and has agreed to buy the remaining 20 percent from Britain's BAE Systems PLC.