Chemring Group announces new Group Finance Director
Defence contractor Chemring Group has appointed Steve Bowers as Group Finance Director, the company reported Thursday.
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
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Shein shifts IPO focus to Hong Kong
The development piles fresh pressure on London’s beleaguered stock market, which many had hoped would be boosted by Shein’s IPO
-
Scientists turn lead into gold – could it wreck the yellow metal's price?
Medieval alchemists have been vindicated after scientists turned lead into gold, but the results aren’t going to crash the gold price any time soon