BAE Systems to appoint new boss
BAE Systems is reportedly set to announce a new boss for the first time in nearly 10 years.
It is thought the defence manufacturer will appoint its chief operating officer, Charles Woodburn, as the new chief executive next week. Woodburn joined the company a year ago.
Sky News reported that BAE Systems may make the announcement shortly before its full year results, which are being published on Thursday next week, or on the same day.
A spokesperson for BAE Systems said no decision had been made on a succession plan.
Current BAE Systems chief executive Ian King has been at the helm of the FTSE-100 arms maker since 2008.
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The defence company has been boosted by the current movements in geopolitics. Its share price has been spurred on by US President Donald Trump's promise to spend more on defence.
BAE Systems has also been benefiting from the UK's new push to drum up foreign trade following the EU referendum.
Recently, King travelled to Turkey with Prime Minister Theresa May to sign an agreement with Turkish President Recep Tayyid Erdogan. As part of a £100m defence deal, BAE systems will manufacture fighter jets for Turkey.