Austria's FACC, hit by cyber fraud, fires CEO

The head of Austrian aerospace parts maker FACC has been fired after the company was hit by a cyber fraud that cost it 42 million euros ($47 million). The firm's supervisory board decided at a 14-hour meeting on Tuesday to dismiss CEO Walter Stephan with "immediate effect", the company said on Wednesday. FACC, whose customers include Airbus and Boeing, said on Jan. 19 it had been hit by a cyber fraud in which hackers stole around 50 million euros by posing as Stephan in an email.