EADS, the parent of troubled planemaker Airbus, is abandoning its twin-chief executive structure, with France's Louis Gallois taking the company reins.

The leaders of France and Germany said the deal marked a big day for both firms.

Shareholders agreed that German Ruediger Grube is to be the sole EADS chairman, the company said. German Thomas Enders takes over Gallois' former role as chief executive of Airbus, stepping down as co-CEO of EADS.

Big day for this company

French President Nicolas Sarkozy said the deal marked "a big day for this company", a sentiment that German Chancellor Angela Merkel echoed during their meeting at Airbus headquarters in Toulouse.

EADS and Airbus "should be managed like companies and not like international organisations," Sarkozy said. Merkel told reporters, "The Germans are very happy."

Enders called the new arrangement a "balanced solution". He will report to Gallois, now responsible for leading the management team in EADS' strategy and keeping in contact with shareholders. Grube will oversee Gallois' decisions and lead a newly created "strategic committee," EADS said.

- AP