IAN KING APPOINTED CHIEF EXECUTIVE, BAE SYSTEMS PLC

IAN KING APPOINTED CHIEF EXECUTIVE, BAE SYSTEMS PLC 

27 Jun 2008 | Ref. 194/2008

BAE Systems today announces the appointment of Ian King, currently Chief Operating Officer UK and Rest of World, as Chief Executive with effect from 1 September 2008. This follows the conclusion of an international benchmarking succession process and the Company’s announcement on 16 October 2007 that Mike Turner would step down as Chief Executive and retire from the Company at the end of August 2008.

On completion of the merger with Marconi in 1999, when BAE Systems was formed, Ian was appointed to the position of Group Strategy and Planning Director and he was instrumental in developing the successful Group strategy. Since January 2007, Ian has been Chief Operating Officer, with responsibility for the Group’s UK and Rest of World businesses, and a Director of the Company.

Commenting on the appointment Dick Olver, Chairman, BAE Systems plc, said: “Ian is a highly experienced business leader with a proven track record in our key home markets. His performance focus and depth of knowledge of the global defence industry will benefit the continued progression of the successful strategy that has been pursued by the Company during the course of Mike Turner’s leadership.

“I would like to thank Mike for his committed and dedicated service over 42 years; particularly over recent years for his part in the Company’s strong financial performance and strategic execution. The Board wishes Mike the greatest success as he sets about the next phase of his career."