17th Dec 2019 15:10
(Alliance News) - BAE Systems PLC on Tuesday said the chief executive of its US business will step down next year, replaced by the division's chief operating officer.
The aerospace & defence company said Jerry DeMuro will step down as chief executive officer of BAE Systems Inc and from the board of the UK parent company on March 31 into the role of executive vice president until the end of 2020, remaining on the board of the US business. He will leave BAE Systems entirely at the end of next year.
Tom Arsenault, chief operating officer of BAE Systems Inc, will take over from DeMuro as CEO and will join the BAE Systems PLC board on April 1. Arsenault has been COO of the US business since May. Previously he was president of the company's Electronic Systems sector.
BAE Systems Chair Roger Carr said: "I would like to thank Jerry for his outstanding leadership since his appointment in 2014. In addition, I look forward to Tom joining the board in 2020 knowing that his skills, industry experience, and expertise will be important to the delivery of our operational performance and strategic objectives in the years ahead."
BAE Systems Inc has more than 33,000 employees and had sales of USD10.8 billion in 2018.
Shares in BAE Systems were down 2.5% at 567.00 on Tuesday afternoon in London.
By Ife Taiwo; [email protected]
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