PARIS (AP) -- European aerospace giant EADS NV said Wednesday it has appointed Bodo Uebber, Daimler AG's chief financial officer, as its new chairman.
Daimler, which holds a 27.5 percent stake in Airbus parent company EADS, announced last week it had nominated Uebber for the position.
In a statement Wednesday, EADS said the board approved the nomination and that Uebber's new position was effective Tuesday.
He replaces Reudiger Grube, who resigned to become chief executive of Germany's state-owned Deutsche Bahn AG.
Uebber has been CFO for Stuttgart-based Daimler since 2001, and has been on the carmaker's management board since 2004.
EADS' board also proposed the appointment of a new board member, Daimler's Wilfried Porth. EADS will ask shareholders to confirm the apointment at the annual general meeting on May 27.
European Aeronautic Defence and Space Co. reported an 89 percent gain in fourth-quarter net profit last year but warned of challenging years ahead. It is cutting aircraft prices and helping customers finance deliveries to cope with the darkening outlook for the global economy and a decline in air travel.