Charles Woodburn to be BAE Systems CEO as Ian King retires

BAE Systems’ chief executive Ian King will retire from the defence company at the end of June, to be succeeded by current chief operating officer Charles Woodburn.

Woodburn, whose career in the defence sector spans more than 40 years, joined BAE in May 2016 as chief operating officer. King has been CEO since 2008.

Chairman Roger Carr said: "After a distinguished career, Ian will retire leaving a legacy of disciplined performance, ethical behaviour, a burgeoning order book, a track record of delivering shareholder value and a strong leadership team. During his tenure as chief executive, Ian has built a world-class defence engineering and technology business, providing vital capabilities to our customers and contributing to the security and economic prosperity of the nations in which we operate.

“Since his appointment last year, Charles has made an important contribution to the company, bringing impeccable engineering credentials, broad international experience and fresh perspectives to build on our existing strengths. In his new role, he will build on an enviable inheritance to create an exciting future, where we will continue to be performance-driven and values-led."

The announcement, which comes ahead of the group’s full-year results on Thursday, had been widely expected.

At 0928 GMT, the shares were up 0.4% to 610.92p.