SAFRF - ArianeGroup CEO is said to plan resignation from joint venture

2023-03-30 14:22:43 ET

Andre-Hubert Roussel early next week will resign from his role as CEO of ArianeGroup, the joint venture between Safran ( OTCPK:SAFRF ) ( OTCPK:SAFRY ) and Airbus ( OTCPK:EADSF ) ( OTCPK:EADSY ), French newspaper La Tribune reported on Thursday.

The company’s Arianespace unit has struggled with unsuccessful launches, including the failure in December of a Vega-C rocket loaded with two Earth-imaging satellites made by Airbus.

The failed launch was the third in the past eight flights of Vega and Vega-C rockets, and another setback for the European Space Agency (ESA) and Arianespace.

The company’s Ariane 6 and Vega-C rockets were designed to compete with Elon Musk’s SpaceX in launching satellites into orbit. SpaceX’s reusable Falcon 9 has driven down the price of satellite launches.

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