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Born in France · Nationality French — Business / finance / tech

Noël Forgeard

Business and billionaires

Documented profile covering 8 controversies, including “2005–2006: Governance and strategy disputes over A350 and division of power between EADS and Airbus” and “May 2006: Abrupt proposal to close SOGERMA Mérignac and cut approximately one thousand jobs”.

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Profile No. 2262 · Updated on 12 October 2026

8Documented controversies
11Sources
1Formal charge · all time1 closed without conviction
0Conviction

§ Legal statuses reflect the documented sources as of the date shown; they replace neither court decisions nor the presumption of innocence. Counts are not a rating. Methodology

I. Documented controversies

01

2013–2015

2013–2015: Referred to criminal court, trial suspended and criminal prosecution barred under non bis in idem

Case dismissed / dropped

Despite the AMF decision, Forgeard and several former executives were referred to the criminal court in 2013. The trial was suspended in 2014 over the issue of duplicate proceedings. In March 2015, the Constitutional Council ruled that parallel administrative and criminal proceedings for the same stock-market conduct were incompatible with the Constitution, making the EADS trial impossible.

Course of the proceedings
  1. Formally charged — Formal charge before the current outcome

Sources · 3

  1. [1]
    Le MondeL'affaire des délits d'initiés présumés chez EADS sera jugée en correctionnellePressHigh reliability
  2. [2]
    Le MondeLe procès EADS suspenduPressHigh reliability
  3. [3]
    Le MondeAffaire EADS : les implications de la décision du Conseil constitutionnelPressHigh reliability

Last verified: 15 September 2026

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02

2008–2009

2008–2009: Formally placed under investigation for insider trading, then cleared by AMF Sanctions Committee

Investigation

Forgeard was taken into police custody and then formally placed under investigation (mise en examen) in the criminal inquiry into EADS share sales. In December 2009, however, the AMF Sanctions Committee dismissed all allegations of insider trading and misleading information against the executives and companies involved.

Sources · 2

  1. [1]
    Le MondeLa direction d'EADS redoute de nouvelles mises en examenPressHigh reliability
  2. [2]
    Le MondeAffaire EADS : l'AMF blanchit les anciens dirigeants du groupePressHigh reliability

Last verified: 15 September 2026

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03

2006–2007

2006–2007: Controversy over departure package of approximately €8.5 million

No legal proceedings

The financial terms of Forgeard's departure, reported at approximately 8.5 million euros in severance and related elements, sparked controversy, particularly as EADS was experiencing an industrial, stock-market and employment crisis.

State of the evidence
Documented
Legal status — source text
Not applicable
Attribution
Directly implicated

Sources · 2

  1. [1]
    La DépêcheEADS : vers un nouveau scandale ?PressMedium reliability
  2. [2]
    Assemblée nationaleRapport d'information sur la situation d'EADSParliamentary recordVery high reliability

Last verified: 15 September 2026

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04

2005–2006

2005–2006: Governance and strategy disputes over A350 and division of power between EADS and Airbus

No legal proceedings

As head of EADS, Noël Forgeard was at the centre of public tensions with Airbus management over A350 strategy, industrial communications and the division of responsibilities between the parent company and its subsidiary. These conflicts contributed to a perception of fragmented governance as Airbus faced major industrial decisions.

State of the evidence
Documented
Legal status — source text
Not applicable
Attribution
Direct responsibility

Sources · 1

  1. [1]
    Le MondeNoël Forgeard : un bagarreur en sursisPressHigh reliability

Last verified: 15 September 2026

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05

2006-05

May 2006: Abrupt proposal to close SOGERMA Mérignac and cut approximately one thousand jobs

No legal proceedings

The proposed closure of the SOGERMA site in Mérignac, employing approximately one thousand people, caused a major industrial and political crisis. The French government considered the approach unacceptable, particularly because of insufficient consultation and the absence of a prior impact assessment, and summoned EADS executives.

State of the evidence
Documented
Legal status — source text
Not applicable

Sources · 2

  1. [1]
    SénatQuestion d'actualité au Gouvernement n° 0682G — SOGERMA à MérignacParliamentary recordVery high reliability
  2. [2]
    Le MondeNoël Forgeard : un bagarreur en sursisPressHigh reliability

Last verified: 15 September 2026

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06

2006-06

June 2006: Further A380 delays announced, share-price collapse and EADS credibility crisis

No legal proceedings

The announcement of further delays to the A380 programme caused EADS shares to fall sharply and triggered a major crisis concerning industrial management and the quality of information provided to investors. Forgeard, then co-chief executive of EADS, faced particular scrutiny.

State of the evidence
Documented
Legal status — source text
Not applicable
Attribution
Direct responsibility

Sources · 2

  1. [1]
    Le MondeNoël Forgeard : un bagarreur en sursisPressHigh reliability
  2. [2]
    Airbus / EADSAd hoc release, 2 July 2006: EADS Board appointed Louis Gallois; Noël Forgeard resignedCompany documentVery high reliability

Last verified: 15 September 2026

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07

2006

March–June 2006: Share sales and stock-option exercises before A380 delays announced

Investigation

Forgeard had sold EADS shares and exercised stock options before the sharp share-price fall caused by the A380 delay announcement. The timing of the transactions, which generated several million euros in gains for him, prompted suspicions of insider trading.

Attribution
Personally implicated

Sources · 3

  1. [1]
    Le Parisien« Je n'ai pas fauté »PressHigh reliability
  2. [2]
    Le MondeLa direction d'EADS redoute de nouvelles mises en examenPressHigh reliability
  3. [3]
    Le MondeAffaire EADS : l'AMF blanchit les anciens dirigeants du groupePressHigh reliability

Last verified: 15 September 2026

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08

2006-07-02

2 July 2006: Resignation as EADS co-chief executive amid A380 crisis

No legal proceedings

Following the crisis caused by A380 delays, questions over share sales and governance disputes, Forgeard resigned as co-chief executive of EADS. Louis Gallois was appointed to replace him.

State of the evidence
Documented
Legal status — source text
Not applicable
Attribution
Directly implicated

Sources · 2

  1. [1]
    Airbus / EADSAd hoc release, 2 July 2006: EADS Board appointed Louis Gallois; Noël Forgeard resignedCompany documentVery high reliability
  2. [2]
    Assemblée nationaleRapport d'information sur la situation d'EADSParliamentary recordVery high reliability

Last verified: 15 September 2026

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II. Constellation of documented links

  • Linked profile (portrait or initials) — click to open it
  • Line width: number of documented references
  • Hover over or tap a line: controversies and sources

Two profiles are linked when a documented controversy of one names the other. The link points to that controversy and its sources; it does not indicate a personal relationship.

List of documented links (1)
  1. Louis Gallois1 documented reference

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