PARIS, March 15 Hedge fund TCI called on
Wednesday for the chairman of Safran to be removed from
his position unless he cancelled Safran's planned takeover of
struggling peer Zodiac Aerospace.
"If you do not cancel the deal it will be clear evidence
that you are not competent to continue as chairman of Safran, so
we will call on Safran shareholders to remove you from the board
at the AGM in June," TCI wrote in a letter addressed to Safran
chairman Ross McInnes.
Officials at Safran were not immediately available to
comment on TCI's letter, which was released to the media.
Shares in Zodiac were down 14.4 percent after Zodiac issued
a new profit warning late on March 14.
However, Safran reaffirmed its interest in acquiring Zodiac,
stating it was confident it could turn around the group's
(Reporting by Cyril Altmeyer and Sudip Kar-Gupta; Editing by