Chaos Again at EADS General Meeting?
Ethical shareholders and peace activists supported by the European Network Against Arms Trade (ENAAT) will again visit the general meeting of shareholders of EADS in Amsterdam, on 6th May 2003.
The ethical shareholders will use their fundamental rights to ask for the information that they consider missing from the official annual report of the company, and to ask the board of directors for an ethically sound policy. Last year's AGM ended in chaos when EADS Chairman Manfred Bischoff suddenly stopped the questioning round, while tens of shareholders still wanted to raise questions. Breaking off all further questions is a serious and unacceptable infringement of the rights of shareholders, as provided by Dutch company law. One fifth of the output of EADS is military (including nuclear missiles, missile defence and military aircraft). This makes EADS the second biggest arms producing company in Europe, and the seventh largest in the world. A top priority for the future for EADS is continued growth in their defence business. They aim to increase revenue from EUR 6 billion in 2002 to EUR 10 billion in 2005. The following questions will be raised by peace activists and ethical shareholders:
Ethical shareholders and peace activists supported by the European Network Against Arms Trade (ENAAT) will again visit the general meeting of shareholders of EADS in Amsterdam, on 6th May 2003.
The ethical shareholders will use their fundamental rights to ask for the information that they consider missing from the official annual report of the company, and to ask the board of directors for an ethically sound policy. Last year's AGM ended in chaos when EADS Chairman Manfred Bischoff suddenly stopped the questioning round, while tens of shareholders still wanted to raise questions. Breaking off all further questions is a serious and unacceptable infringement of the rights of shareholders, as provided by Dutch company law. One fifth of the output of EADS is military (including nuclear missiles, missile defence and military aircraft). This makes EADS the second biggest arms producing company in Europe, and the seventh largest in the world. A top priority for the future for EADS is continued growth in their defence business. They aim to increase revenue from EUR 6 billion in 2002 to EUR 10 billion in 2005. The following questions will be raised by peace activists and ethical shareholders:
- What guarantees can be given that EADS will answer all the questions posed by shareholders at this year's AGM, as demanded by Dutch company law?
- Why did EADS provide discounted cars to a number of politicians and officials involved in South Africa's multi-billion-rand arms deal? In March 2003, the court sentenced people involved in this bribery to up to 4 years in prison.
- EADS does not provide - despite their obvious approval of weapons production - adequate data on their arms business (sales, profits and production sites).
- EADS is developing weapons systems for European states, which will enable these countries to engage in a limited nuclear war, in contravention of international law.