24th Apr 2007 07:01
BBA Aviation PLC24 April 2007 24 April 2007 For Immediate Release BBA AVIATION PLC Appointment of new CEO Simon Pryce BBA Aviation plc today announces that Simon Pryce will join the Board as ChiefExecutive Officer with effect from 11th June 2007. He brings Executive Boardexperience as well as a wealth of strategic and operational skills and asubstantial track record in finance and general management. The Board believesthat he is the ideal candidate to drive the company forward in this new phase ofBBA Aviation's development. From the 11th June 2007 Michael Harper, currentlyExecutive Chairman, will become non-Executive Chairman. Having spent nine years at GKN plc in senior corporate finance, financial andinternational operational roles, Simon Pryce is currently Chief Executive ofGKN's Diversified Businesses Group and sits on the GKN plc Executive Committee.GKN's Diversified Businesses Group is a portfolio of seven geographicallydiverse and separate companies with both manufacturing and service focuses,principally in the automotive sector. These businesses have a combined turnoverof approximately £800m and some 6,000 employees. In his career at GKN, SimonPryce has also held the roles of Chief Financial Officer, GKN Automotive, ChiefExecutive GKN Autocomponents, Managing Director GKN Driveline AftermarketOperations and Director, Corporate Finance (where he executed a number oftransactions in the aerospace sector). Prior to joining GKN Simon Pryce held several senior positions in mergers andacquisitions at JP Morgan and Lazards in London and New York. He is a qualifiedchartered accountant. Commenting on the appointment, Michael Harper, Executive Chairman of BBAAviation said: "We are extremely pleased to have secured someone of Simon's calibre who bringswith him extensive strategic and operational experience in finance and generalmanagement as well as a substantial track record in transaction execution. Inthe course of his successful career at GKN, Simon has been instrumental in thedevelopment and implementation of long-term value creative strategies for anumber of GKN's businesses as well as the operational management of a portfoliogroup of companies with manufacturing and service focuses. "The business aviation market is strong and we believe that Simon's skills andexperience will be invaluable in driving BBA Aviation's market leadingbusinesses forward and continuing to play our part as a consolidator in alargely fragmented market. I look forward to working with Simon in my newcapacity of non-Executive Chairman of BBA Aviation" Simon Pryce commented: "I am delighted to be joining BBA Aviation at this stage in its development. BBAAviation has strong and established businesses that are well positioned in theirmarkets, with enviable relationships across a broad customer base. BBA Aviationis uniquely placed to take advantage of the continuing growth in businessaviation and I am looking forward to working with the Board and existingmanagement to capitalize on both internal and external opportunities to realiseBBA Aviation's exciting potential." Enquiries: BBA Aviation plcMichael Harper, Executive Chairman020 7514 3999 Brunswick Group LLPLucie Anne Brailsford / Jemma Hill020 7404 5959 Notes to Editors Simon Pryce CV 1998 - date GKN plc 2005 - date Chief Executive, GKN Diversified Businesses Group 2004 Chief Financial Officer, GKN Automotive and Chief Executive, GKN Autocomponents 2002 - 2003 Managing Director, GKN Driveline Aftermarket Operations 2001 - 2004 Finance & IS/IT Director, GKN Driveline 1998 - 2001 Director, Corporate Finance 1996 - 1998 J P Morgan Senior Vice President, UK Advisory 1988 - 1996 Lazard 1995 - 1996 Director & Executive Director, London 1993 - 1994 Vice President. Lazard Freres & Co, New York 1983 - 1987 Price Waterhouse BBA Aviation BBA Aviation is a world leader in aviation services focusing on Aviation FlightSupport and Aftermarket Services and Systems. BBA Aviation provides flightsupport services for corporate and commercial aviation customers as well asmaintenance, repair, overhaul and spare parts for aircraft engines. It alsosupplies aviation components, landing gear and hydraulic systems. These areattractive niches in a $250 billion market with clear barriers to entry, whereBBA Aviation has leading positions, well-known and reputable brands and a proventrack record of organic and acquisition-led growth. BBA Aviation was formerly part of BBA Group, but following the demerger ofFiberweb, in November 2006 it became a stand-alone aviation services business. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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