6th Aug 2009 07:02
6 August 2009
Cobham plc Appoints New Chief Executive and
Announces Retirement of Chairman in 2010
On 6 May 2009 it was announced that Allan Cook would retire from Cobham as Chief Executive and member of the Board with effect from 31 December 2009 and that a succession process was in hand. That process included an extensive global mapping of potential candidates. As a consequence of this exercise the Board has unanimously decided that Andy Stevens, currently Chief Operating Officer, is the best qualified candidate to succeed Allan as Chief Executive of Cobham with effect from 1 January, 2010.
Andy has extensive successful experience in the industry which includes a career at Messier Dowty and Rolls Royce, two organisations that provided him with the challenges of international, high technology, multi-product businesses. Andy, aged 52, joined Cobham in November 2003 as Group Managing Director of the then Aerospace Systems Group and became Chief Operating Officer in 2005.
Allan will retire as planned from the Board at the end of the year, but has agreed to act as a consultant to Cobham during 2010.
David Turner, Chairman of Cobham has been invited to take up a senior non-executive position in a major Australian company early next year. A further announcement on this position will be made very shortly. David will continue as Chairman of Cobham until the conclusion of the AGM in May 2010 whereupon he will retire as Chairman and a member of the Board. A process for identifying his successor has commenced and is being led by senior independent director Marcus Beresford.
David Turner chairman said:
"Andy's leadership and business acumen, as well as his results orientation, are clear for all to see. In his new role he will be supported by a strong senior management team that has been significantly enhanced over the last 18 months.
"At the end of the year when Allan relinquishes responsibility as Chief Executive he will have served nine years with Cobham, eight of which as Chief Executive, during which time the business has been transformed. I am delighted that Allan has agreed to support Cobham during 2010 as a consultant on specific assignments under Andy's leadership.
"While I am delighted to have been invited to take up this new role and to be moving back to Australia, it is with some regret that I will leave Cobham at such an exciting time in its development. The Group has many excellent technologies, products and services; strong market positions across the world and a talented workforce."
- ends -
ENQUIRIES
|
David Turner, Chairman
|
+44 (0)1202 882020
|
|
Allan Cook, Chief Executive
|
+44 (0)1202 882020
|
|
Julian Hellebrand, Group Director of Communications
|
+44 (0)1202 857651
|
|
Julian Wais, Director of Investor Relations
|
+44 (0)1202 857998
|
|
Susan Ellis, Senior Communications Adviser
|
+44 (0)7836 522722
|
NOTES
Cobham's products and services have been at the heart of sophisticated military and civil systems for more than 70 years, keeping people safe, improving communications and enhancing the capability of land, sea, air and space platforms. The Company has four divisions employing more than 12,000 people on five continents, with customers and partners in over 100 countries and annual revenue of more than £1.4 billion/US$ 2.1 billion.
Andy Stevens was appointed to the Board as Group Managing Director of the Aerospace Systems Group in November 2003. In September 2005 he was appointed Chief Operating Officer, a role he holds today. He has a First Class Honours Degree in Production Engineering which was obtained from Aston University.
Andy's early career was within the then Dowty group where positions held included Production Director at Dowty Rotol and General Manager of Dowty Aerospace Landing Gear (UK). Following TI Group's acquisition of Dowty he became General Manager of Bowthorpe plc's (now Spirent) cable management sector thereby gaining valuable experience outside the aerospace industry.
Rejoining the TI Group in 1996, Andy was seconded to Messier-Dowty Limited subsequently holding a number of positions including Managing Director of Messier-Dowty (Europe) and Chief Operating Officer of Messier Dowty International, based in Paris.
Prior to joining Cobham, Andy was Managing Director - Defence Aerospace with Rolls-Royce plc, based in Bristol with responsibility for the Military engine business. He is a member of the SBAC Council, supports the AIA in the USA and in May 2006 joined the Board of the Royal Aeronautical Society.
Andy is married, has two daughters and lives in Cheltenham. He enjoys walking, gardening and driving a range of cars.
Related Shares:
Cobham