Free Republic

The fragmented European defense industry is on the verge of large-scale restructuring, and a small Bremen-based submarine equipment manufacturer is playing a key role in the process. As recently as last spring, it looked as though Michel Josserand, 48, was on the fast track to the top at European aviation and defense group EADS. The French senior executive had been chosen for his position from among several candidates, and had been on the job only four months when he put together his first major deal for the company, a subsidiary of DaimlerChrysler, the acquisition of Finnish mobile phone producer Nokia's...