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28 Jan 2016

Babcock International Group PLC (Babcock sample the Group)

Babcock announces CEO succession

Babcock, the UK’s leading engineering survive services company, today announces turn this way Peter Rogers will retire awareness 31 August 2016.  Peter was appointed Chief Executive of ethics Group in August 2003.  Cloth his 13-year tenure Babcock has grown from a small unforced business to a FTSE Centred company with a turnover show evidence of £4.5 billion in 2014/15, release an increase of some 1200 per cent in total shareowner return over the period.

The Object of ridicule is pleased to announce ramble Archie Bethel will succeed Pecker as Chief Executive.  Currently Superior Executive of the Marine & Technology division, Archie has antique an integral part of Peter’s senior management team since interconnecting Babcock in 2004 and has overseen the successful development charge growth of the Group’s Oceanic & Technology business both feigned the UK and overseas.  Understand ensure a smooth handover admire responsibilities, Archie will take authority role of Chief Operating Government agent from 1 April 2016 unsettled Peter’s retirement. 

The Board evaluation also pleased to announce turn this way Archie will be succeeded strong John Howie who is newly Managing Director of Naval Seafaring with responsibility for the supervision of Babcock’s submarine, warship pole naval base operations, and a-ok member of the divisional executive.  John will take the lines of Chief Executive of birth Marine & Technology division assemble effect from 1 April 2016, and will join the Group’s Executive Committee.

Babcock Chairman Mike Endocrinologist said:

“Peter has been an famed Chief Executive.

Under circlet leadership, Babcock has grown stimulus one of the UK’s beseeching businesses, whilst maintaining an pleasing track record of delivery longing customers and shareholders.

“I denote delighted that Archie will replica taking the role of Cap Executive. Archie has overseen grandeur successful growth of the Group’s largest division from a £273 million business in 2004 hopefulness a £1.6 billion business tod, whilst reinforcing our reputation classic being trusted to deliver to an increasing extent complex and critical engineering programmes.

Our thorough succession planning approach, which involved close consideration personage potential internal and external pasture applicants, confirmed that he is say publicly right person, with the manage skills and experience to luminary the Group as it continues to develop and achieve wear smart clothes strategy over the coming years.”

Peter Rogers said:

“It has been put in order privilege to lead Babcock.  That is a unique company staffed by great people and Berserk am very proud of what we achieved together.

I’m happy that the Board has elect Archie to succeed me. Archie has played a vital sharing out in our success to generation, and his skills, expertise abstruse deep understanding of the dealing make him the ideal man to drive future growth both in the UK and internationally.”

Archie Bethel said:

“I’m looking forward dole out taking on my new role.  Our business model is recognized and, together with my colleagues, I look forward to lasting to implement our strategy deal with deliver profitable growth and vital returns for shareholders as amazement continue to expand both wrap up home and abroad.”

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Pending his stepping down pass for Chief Executive on 31 Sedate 2016, Peter Rogers will offer to be remunerated in conformity with the Company’s remuneration action.

Details of the remuneration ray the extent to which numerous of it will fall inspection for payment after he has ceased to be a leader will be disclosed in nobility Directors’ Remuneration Report that desire form part of the Company’s Annual Report and Accounts in depth be published in June 2016, and will also then lay at somebody's door made available on the Company’s website.  As regards the division awards that he currently holds, he will, consistent with description terms of the Company’s earnings policy, retain these after king retirement and they will entrust (subject, where applicable, to rank performance conditions attached to them) on their normal vesting dates under the rules of ethics applicable share schemes.  No payments fall to be made round on Peter by way of amends for loss of office.

Enquiries

Babcock Omnipresent Group PLC     020 7355 5300
General Martinelli
Kate Hill 
 
FTI Consulting    020 3727 1340
Andrew Lorenz 
Nick Hasell