Trichet to join board of aerospace group EADS, say reports

Jean-Claude Trichet, former president of the European Central Bank (ECB), is reported to be eyeing a position on the board of Franco-German owned European Aeronautic Defence and Space Company (EADS), the parent company of aircraft manufacturer Airbus.

Les Echos, a French daily, reported Trichet was expected to be selected as a board member of EADS at a general meeting taking place on January 26. Philipp Lehmann, spokesperson for EADS, could not confirm the appointment, but said any changes relating to the board structure would be announced immediately after the meeting.

Trichet's appointment is rumoured to be part of a major reshuffle of the senior management at EADS. Tom Enders, chief executive of Airbus, is expected to replace Louis Gallois as chief executive of EADS, while Fabrice Bregier, chief operating officer of Airbus, would head Airbus as its new chief executive.

If selected, Trichet would need to seek the approval of the ECB's Governing Council before being appointed. According to a spokesperson at the ECB, the cooling-off period for executive board members is judged at the discretion of the council. Any changes to the board would not formally take place until the EADS shareholders' meeting on May 31.

Trichet was replaced by Mario Draghi as the head of the ECB on October 2011, when his term as president expired. Prior to joining the ECB in 2003, Trichet was governor of the Banque de France. He also spent a lengthy period at France's Ministry of Finance, where he rose to the position of director of the Treasury in 1987. In the same year, he was appointed alternate governor of the International Monetary Fund and the World Bank.