Defence contractor Chemring Group has appointed Steve Bowers as Group Finance Director, the company reported Thursday.
He will take over from Nigel Young, who has been Interim Chief Financial Officer since last July.
Bowers worked as Finance Director for Umeco, a provider of composite materials to aerospace and defence industries until its acquisition by Cytec UK Holdings in July 2012. He was with the company for 13 years in a number of finance roles.
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
Bowers was involved in the disposal of Umeco's Supply Chain division. He became Finance Director upon announcement of the disposal in 2011.
Peter Hickson, Chairman of Chemring, said: "I am delighted to welcome Steve Bowers to Chemring's board. He played a central financial role at Umeco during a period of considerable change, and his excellent knowledge of the international aerospace and defence industries will be of great benefit to the group.
"Following Mark Papworth's recent arrival as Chief Executive Officer, Steve's appointment is another important step in strengthening our executive management team, as we commit to rebuilding operational and financial performance and delivering improved returns for shareholders."
Bowers will step into the role on Monday.
New Group Director of Human Resources Jim Devine also starts Monday.
The FTSE 250 company is a British-based producer of counter-measures and energetics for aerospace and defence security.
RD
-
8 of the best properties for sale with home gymsThe best properties for sale with home gyms – from a penthouse next to Coal Drops Yard in London to an equestrian estate set in 220 acres in Suffolk
-
What’s changing with employers’ National Insurance – and how will it impact you?You might think the upcoming changes to employers’ National Insurance won’t impact you unless you’re a business owner, but experts have warned it could limit pay rises, cause redundancies, and push inflation higher.
