– UK, Fareham – Chemring Group PLC (LSE:CHG), announces that Group Chief Executive Michael Flowers has informed the Board of his decision to retire. Michael will step down from the Board of Chemring on 30 June 2018, and will leave the Group on 31 October 2018.
Following a comprehensive search process, the Board announced the proposed appointment of Michael Ord as Michael Flowers’ successor. He is expected to join Chemring on 1 June 2018, and to take over as Group Chief Executive on 1 July 2018.
Michael Ord joins Chemring from BAE Systems, where he has held a number of senior roles across air, land and sea platforms, including Managing Director of the BAE Systems Naval Ships business and Managing Director of the BAE Systems F-35 Joint Strike Fighter business. Prior to his move into industry in 1996, Michael had a successful career in the Royal Navy.
Carl-Peter Forster, Chairman of Chemring, said: “Michael Flowers has led Chemring since June 2014 through a period of significant transformation. Under his leadership the Group has been significantly restructured and strengthened, with a particular focus on safety improvement and the development of a more robust and sustainable business model. He has championed a culture of operational excellence and the sharing of best practice, and he leaves the Group well placed for future growth. The Board joins me in congratulating Michael for all that he has achieved, and in thanking him for his energy and commitment to Chemring over the past twelve years. We wish him well in his retirement.
“I am delighted that Michael Ord will be joining Chemring as our new Group Chief Executive. Michael has a proven track record within the international defence industry, most notably at BAE Systems, and I am certain that he has all the necessary skills and experience to enable Chemring to deliver growth over the next stage of Chemring’s progression.
“We are now moving from a period of significant change and reorganisation to one of growth and opportunity. The Board looks forward to working closely with Michael over the coming years.”
Michael Flowers, Chief Executive of Chemring, added: “It has been a privilege to have served with Chemring over the past 12 years and to have been Chief Executive for the past four. Our team has concluded a period of major change and the efforts of all during difficult times has resulted in an organisation that is financially strong, industrially both effective and efficient, and market focused. In concentrating on market segments where we have genuine differentiation, market advantage and world class capabilities, the Group is now well positioned to reap the benefits from a growing market.
“I have discussed my potential retirement with the Board for some time. I believe that now is the right time for me to retire, and return to Australia, and for someone new to lead the Group on the next stage. I wish Michael Ord and the broader Chemring team all the best for the future.”
For more information : http://www.chemring.co.uk
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.