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Airbus CEO Streiff Out

He held the post for only three months.
Author:

Christian Streiff, the chief executive of

Airbus

, has resigned from his post in the wake of recurring setbacks for the commercial jetmaker's A380 program.

European Aeronatic Defence & Space, the majority owner of Airbus, said Streiff will also leave the EADS executive committee, effective immediately. EADS Co-CEO Louis Gallois will take over as the chief executive of Airbus and retain his current position.

Streiff's tenure at Airbus lasted only three months. He joined the company in July from Saint-Gobain Group.

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Reports emerged late last week that Streiff would quit after Airbus said production of the A380 superjumbo jet would be delayed for a third time, slashing its expected operating profits for the next four years.

France-based Airbus competes with

Boeing

(BA) - Get Boeing Company Report

in the commercial-airplane market.