John Davies has been appointed as Executive Director at Babcock International Group, the engineering support services company, and will assume the role actively from January 1st 2013.
Davies previously held several senior executive positions within VT Group between 2000 and 2010 and became Chief Executive of the Defence and Security Division after Babcock's acquisition of VT in July 2010.
Mike Turner, Chairman of Babcock International, commented: "I am very pleased to welcome John to the board. He has played a significant part in the successful integration of Babcock and VT Group. Our defence and security business now accounts for over a quarter of total group revenue and we believe it will be a major contributor to our future growth."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
As the company announced in March, Sir Nigel Essenhigh will retire from the board with effect from December 31st, having been appointed as a Non-Executive Director in March 2003.
Commenting on Sir Nigel's retirement Turner added: "I would like to put on record our sincere appreciation of Sir Nigel's service throughout his term of office. He has contributed greatly to the work of the board and its committees and to the development of Babcock from the small company that it was at the time of his appointment to the FTSE 100 company it is today."
The company also confirmed that, as announced on June 19th, Anna Stewart had joined the board as a Non-Executive Director on November 1st.
Babcock International's share price was up 0.05% to 988p at 15:01 on Thursday afternoon.
MF
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
