Directorate Change

RNS Number : 8277G

BAE SYSTEMS PLC

12 June 2013

 

12 June 2013

BAE Systems Announces Sir Roger Carr to join the Board as Chairman Designate

BAE Systems plc is pleased to announce that Sir Roger Carr will join the Board as a non-executive director and Chairman designate on 1 October 2013 and will succeed Dick Olver as Chairman in the first quarter 2014, following a transition period.

Sir Roger, 66, is currently Chairman of Centrica plc and was until recently President of the CBI, the UK's main business lobbying group. He is also Deputy Chairman and Senior Independent Director of the Court of the Bank of England and a member of the UK Prime Minister's Business Advisory Group. He will step down as Chairman of Centrica on or before the Centrica AGM in 2014.

Nick Rose, BAE Systems' Senior Independent Director, said: "Sir Roger Carr is the unanimous choice of the Nominations Committee and his proposed appointment has been warmly endorsed by the entire Board.

"The Company conducted a comprehensive search and Sir Roger was the clear choice. He is an outstanding candidate with two decades' Board-level experience at the top of UK industry. His skills, reputation and relationships with investors and government ministers will be of considerable value to the Company both at home and abroad.

"Dick Olver has been an excellent Chairman at BAE Systems, and has led wide-ranging cultural and governance changes within the Company. Dick told the Board some time ago of his intention to leave to pursue other interests and, with typical generosity, has agreed to stay on until the first quarter next year, to ensure a smooth handover across our international footprint and our global markets. "

Sir Roger said: "I feel privileged to be offered this role and look forward with real enthusiasm to working with the Board in shaping the future of this great company. BAE Systems is strategically important not just for the UK but internationally, playing a key role in the defence industry in the US and in other parts of the world.

"I have long admired the company which has a remarkable heritage for innovation and technology.  It is well-positioned in a rapidly evolving industry to face uncertainties around defence budgets and has great opportunities in new geographies and technologies.  It is my intention to build on these strong foundations in the years ahead."

Dick Olver said: "I am delighted to hand over to Sir Roger who is an outstanding leader for this very important and complex world-class company.  I have thoroughly enjoyed my time at BAE Systems and I want to particularly commend the workforce and the executive team under the leadership of Ian King.  BAE Systems' employees form a remarkable pool of trained, expert talent.

 "I look forward to pursuing other business interests, further supporting my passion for enhancing engineering and technology education in the UK, and, of course, continuing to focus on keeping our country economically strong, safe and competitive."

Information Notified Pursuant to Listing Rule 9.6.13

Sir Roger Carr holds, or has held, the following directorships of publicly quoted companies in the previous five years:

Centrica plc - current directorship

Mondelez UK Holdings & Services Limited (previously Cadbury Schweppes Public Limited Company) - resigned 03/04/2009

Mitchells & Butlers plc - resigned 20/06/2008

Cadbury Limited (previously Cadbury plc) - resigned 10/03/2010

There are no other details to disclose under Listing Rule 9.6.13.

Issued by:

BAE Systems plc

 

END

 

 

BOASFLFUFFDSEEM