Long time company executive Mike Turner will be stepping down as the Chief Executive Officer of BAE Systems, as well as leaving the Board of Directors, at the end of August 2008. The Company is now commencing the process of appointing a successor as Chief Executive Officer to achieve an orderly handover.
Mike Turner said, "I have decided to retire from the Company next year when I reach 60 after 42 years with the Company, the last five and a half years as CEO. I am pleased to be leaving a great company in such excellent financial shape and with a strong forward strategy and robust business plan." The Chairman of BAE Systems, Dick Olver, added, "I would like to thank Mike for his committed and dedicated service over 42 years; particularly over recent years for his part in the Company’s strong financial performance and strategic execution. The Board wishes Mike the greatest success as he sets about the next phase of his career."
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