BAE Poised to Name Woodburn Operating Chief
15 February 2016 - 12:30PM
Dow Jones News
LONDON—BAE Systems PLC is poised to name oil-industry executive
Charles Woodburn as chief operating officer, putting him in line to
eventually replace Chief Executive Ian King, a person familiar with
the matter said.
BAE Systems, the U.K.'s biggest arms maker and a major Pentagon
supplier, has been exploring succession options for some time.
Mr. Woodburn, who lacks defense-industry experience, would work
with Mr. King for a year or more before the handoff takes place,
said the person who asked not to be named ahead of a formal company
announcement.
Mr. Woodburn has been chief executive for Expro Group
International PLC since 2010 and previously worked at oil services
group Schlumberger Ltd.
The pending appointment is expected to be formally made before
BAE reports full-year results on Thursday. Expro couldn't
immediately be reached for comment about the departure of its chief
executive.
BAE Systems chairman Roger Carr has ties to the energy sector.
He was chairman of U.K. utility Centrica.
If Mr. Woodburn becomes BAE's chief executive it would be the
second time a major British aerospace and defense company has gone
outside to tap a new boss. Warren East last year was named to lead
aircraft engine maker Rolls-Royce Holdings PLC. Mr. East once ran
semiconductor company ARM Holdings PLC.
Mr. King, a longtime BAE employee, has run the company that
makes British warships and combat planes since 2008. He has
overseen a period of drastic cuts in military spending, and cut
jobs in the U.S., U.K. and Australia.
Mr. King also tried to forge a merger with Airbus Group SE, then
still called EADS. The deal failed amid German government
opposition.
Last year BAE announced a reduction in the pace of production of
Eurofighter Typhoon combat jets. The move was aimed at avoiding a
break in production toward the end of this decade because of a lack
of export deals. A long-sought follow-on purchase of Typhoon jets
from Saudi Arabia that would secure the production line's future so
far has failed to materialize.
BAE Systems at times has flirted with the idea of naming an
American as chief executive because the Pentagon is its
single-largest customer. The British government has opposed such a
move.
Write to Robert Wall at robert.wall@wsj.com
(END) Dow Jones Newswires
February 14, 2016 20:15 ET (01:15 GMT)
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