Robert Murphy, a member of the defence group BAE Systems' Executive Committee, is to leave the company to take up the Chief Executive Officer (CEO) role at sector peer Cobham.
Murphy, who was Executive Vice President of BAE Systems Inc's Product Sectors division, will move into the Cobham hot seat on June 25th. Cobham has been looking for a new chief since previous incumbent Andy Stevens announced plans to take early retirement due to the recurrence of a long term serious back injury.
Murphy has worked for more than a quarter of a century in the Civil, Commercial & Defence sectors of the Aerospace and Defence industry.
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
Andy Stevens will continue to assist the board of Cobham until further notice and will support Murphy during this transition. Murphy will relocate to the UK and will primarily work out of existing offices in Wimborne, Dorset.
As for BAE Systems, it said that pro temps the leaders of the two BAE Systems Inc businesses which comprise the Product Sectors division will report directly to Linda Hudson, President and CEO of BAE Systems, Inc.
JH
-
Cash in on the growth prospects of Europe's companiesOpinion Marcel Stötzel, co-portfolio manager of the Fidelity European Trust, selects three stocks
-
Is the AI boom another dotcom bubble?25 years on from the dotcom bubble bursting, is it time for investors to consider the sustainability of the AI boom in the stock market?
