Exclusive outtakes from industry leaders
It might well have been the business divorce of the year, but it seems there are no hard feelings between the heads of defense contractors Northrop Grumman and jilted European partner EADS.
The companies had been bidding together to challenge Boeing for a deal worth up to $50 billion to supply aerial tankers to the Air Force. But Northrop pulled out in March leaving EADS, the Franco-German parent company of Airbus, to bid alone.
The two companies’ chief executives crossed paths in the Reuters Washington bureau as they took consecutive speaker spots at an annual Reuters symposium on the aerospace industry.
Frenchman Louis Gallois, the chief executive of EADS, put his arm around Northrop’s Wes Bush and said “Just married!”
Northrop Grumman CEO and President Wes Bush (no relation to the former president) says there’s a message in moving the company headquarters across the country to a suburb of Washington from Los Angeles.
“I absolutely believe it’s something that we need to do and will be very good for our company,” Bush said at a Reuters Aerospace and Defense Summit.