27th Mar 2006 10:06
BAE SYSTEMS PLC27 March 2006 Board Change The Rt Hon Michael Portillo is standing down from the Board of BAE Systems atthe conclusion of the Company's AGM to be held on 4 May 2006. Mr Portillo has decided to stand down because of problems that might arise fromhis other work as a political journalist. Mr Portillo commented in his letter of resignation that in his work in the mediait is important to him to be able to speak freely and on any topic. There is adanger that his views might be thought to represent the position of the Company,or alternatively be thought to be at variance with the Company's views. Havingconsidered the problem carefully he believes that it can only be resolved bystanding down from the Board. Michael Portillo joined the Board in September 2002 and since has become aregular political commentator on the BBC television programme This Week and healso writes a column in The Sunday Times. Michael Portillo said: "I have greatly enjoyed serving on the Board of BAESystems and would like to congratulate the Company on its achievements." Dick Olver, Chairman of BAE Systems, commented: "We truly benefited from MrPortillo's presence on the Board and from his long political experience. We aresorry that his other work makes it difficult for him to continue with us and wewish him well." 27 March 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BAE Systems