By Robert Wall

Airbus Chairman Denis Ranque on Wednesday said the board plans to nominate Warburg Pincus managing director Rene Obermann as the European plane maker's new chairman next year.

Mr. Obermann is already a member of the Airbus board he joined four years ago.

The nomination of Mr. Obermann, a German national, was announced at Airbus's annual shareholder meeting. Mr. Ranque had previously said he was stepping down.

The move restores the careful balance between nationalities at the Franco-German plane maker after Frenchman Guillaume Faury replaces German Tom Enders as chief executive after the meeting, pending a shareholder vote.

Write to Robert Wall at Robert.Wall@wsj.com

(END) Dow Jones Newswires

April 10, 2019 08:44 ET (12:44 GMT)