1st May 2018 10:31
LONDON (Alliance News) - Chemring Group PLC said Tuesday that Chief Executive Officer Michael Flowers will retire at the end of June and leave the engineering firm at the end of October to be replaced by former BAE Systems PLC executive Michael Ord.
"Michael Flowers has led Chemring since June 2014 through a period of significant transformation," Chemring Chairman Carl-Peter Forster said. "Under his leadership the group has been significantly restructured and strengthened, with a particular focus on safety improvement and the development of a more robust and sustainable business model.
"He has championed a culture of operational excellence and the sharing of best practice, and he leaves the group well placed for future growth, Forster added. "The board joins me in congratulating Michael for all that he has achieved, and in thanking him for his energy and commitment to Chemring over the past twelve years. We wish him well in his retirement."
Flowers will be replaced by former BAE Systems executive Michael Ord who will join Chemring from the start of June and become CEO from the start of July.
Ord has held a "number" of senior roles at BAE across its air, land and sea platforms. These included as managing director of the BAE Systems Naval Ships business and MD of BAE Systems F-35 joint strike fighter business. Prior to entering the defence industry in 1996, he served in the Royal Navy.
"I am delighted that Michael Ord will be joining Chemring as our new Group Chief Executive," Forster continued. "Michael has a proven track record within the international defence industry, most notably at BAE Systems, and I am certain that he has all the necessary skills and experience to enable Chemring to deliver growth over the next stage of Chemring's progression."
"We are now moving from a period of significant change and reorganisation to one of growth and opportunity," Forster concluded.
Shares in Chemring were 0.2% higher at 209.50 pence on Tuesday.
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