Paris — Thales put on hold a board meeting due to be held Monday, said a spokesman for the defense electronics company, amid media reports of a dispute between Dassault Aviation and the French government over management leadership.
Thales has postponed a meeting of the management board, said the company spokesman, who declined comment on the media reports of a clash between the two leading stockholders.
Dassault and the government had agreed over the weekend to appoint Henri Proglio to the new post of chairman, and Patrice Caine as chief executive, daily Le Figaro reported. Dassault, which holds 25.3 percent of Thales, owns the newspaper. The government holds 26.39 percent of the electronics company.
Dassault wanted the government to give up one of its five seats on the board to Proglio, while the administration wanted the aircraft maker to give up one of its four seats to the incoming chairman, business website La Tribune reported.
Dassault was unavailable for comment.
Thales staff had hoped the board meeting would resolve a lack of clarity over the top management, following the departure of the previous chairman and chief executive Jean-Bernard Levy to head the giant utility company Electricité de France.
Proglio recently stood down as chairman of state-owned EDF, due to lack of support from the government. Caine is the present chief operating officer, effectively number two at Thales.
Philippe Logak is the acting chairman and chief executive, pending the appointment of the top managers.
The management board comprises 16 seats, of which five are government held, four Dassault held, four independent, two representing staff, and one for staff shareholders.
