13th Feb 2016 13:43
LONDON (Alliance News) - Defence contractor BAE Systems PLC is set to appoint Charles Woodburn, a former executive at US oil services group Schlumberger Ltd, as its chief operating officer and preferred successor to Chief Executive Ian King, who will retire in 12 to 18 months' time, the Financial Times reported.
Woodburn, currently the chief executive of oil services company Expro International, will take up the chief operating officer role at BAE in the next week in order to give him time at the company before then potentially taking up the top role.
King, the incumbent CEO, took the same route to the top job, acting as COO for around two years before taking up chief executive position in 2008.
BAE is due to publish its 2015 results on Thursday, a year characterised by a continued squeeze on government defence spending and with its outlook focused on the renewal of some major defence contracts on its books.
https://next.ft.com/content/edb27a70-d24c-11e5-829b-8564e7528e54
By Sam Unsted; [email protected]; @SamUAtAlliance
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