Ian King (pictured), who was appointed as chief executive in 2008 after succeeding Mike Turner, will retire on 30 June.
His successor has been named as Charles Woodburn, chief operating officer at BAE Systems, who will be appointed as chief executive from 1 July.
Woodburn joined BAE Systems in May last year following over 20 years’ international experience in senior management positions in the oil and gas industry.
Sir Roger Carr, chairman of BAE Systems plc, 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.
He continued: "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.”
BAE Systems chief to step down
1 min read
The chief executive of UK defence giant BAE Systems is to retire later this year, it has been announced.
