Cobham PLC Cobham plc appoints new Chief Executive Officer (3640H)
August 17 2016 - 2:01AM
UK Regulatory
TIDMCOB
RNS Number : 3640H
Cobham PLC
17 August 2016
17 August 2016
Cobham plc appoints new Chief Executive Officer
Cobham plc announces that its Chief Executive Officer (CEO), Bob
Murphy, is to step down from his role and from the Board no later
than the end of 2016 to pursue other opportunities. The Board
thanks Bob for his leadership during challenging times, including:
the development of a clear strategy with a focus on connectivity;
driving technology investment resulting in a number of strategic
wins for the Group; and enhancing the Company's customer focus and
performance to customer expectations. We wish him well in his
future endeavours.
Mr Murphy will be succeeded by David Lockwood who will join the
Company no later than 1 January 2017. He will also join the
Board.
David is currently CEO of Laird PLC, the FTSE 250 technology
company providing products and solutions that protect electronics
from electromagnetic interference and heat and which enable
connectivity in mission-critical wireless applications. During his
time at Laird, David has built the company into a focused
enterprise connectivity company with leading positions in the
connected transport and consumer device markets, delivering
sustained organic growth.
Before taking his current role four years ago, David was
formerly Vice President Global Defence & Security at BT Global
Services. He has experience of international defence operations,
gained from his roles at GPT (Marconi), BAE Systems and Thales
Corporation. He chaired the Scottish Government's Technology
Advisory Group and, in 2005, was the recipient of the Scottish
Entrepreneur of the Year Award for Technology. In February 2014,
David was appointed as Non-Executive Chairman of Knowledge Transfer
Network Ltd.
David has a BA (Hons) in Mathematics from the University of York
and is a Chartered Accountant by profession.
Cobham Chairman, John Devaney said, "David has a background in
defence and communications technology which are at the heart of
Cobham. We look forward to him joining the company and thank Bob
for his contribution."
Other than David Lockwood's Executive Director role at Laird
Group plc, there are no further disclosures to be made under rule
9.6.13 of the Listing Rules.
- ends -
Notes: Mr Lockwood will be paid an annual salary of GBP690,000
and will participate in the Company's established bonus and
long-term incentive schemes. Any outstanding Laird incentive awards
forfeited as a consequence of joining Cobham will be replaced with
awards on a comparable basis to those forfeit. The value awarded
will match those of the forfeit arrangements taking into account
the actual performance conditions that transpire and the associated
vesting conditions.
This announcement contains inside information.
About Cobham
The most important thing we build is trust.
Cobham is a leading global technology and services innovator,
respected for providing solutions to the most challenging problems,
from deep space to the depths of the ocean.
We employ around 11,000 people on five continents, and have
customers and partners in over 100 countries, with market leading
positions in: wireless, audio, video and data communications,
including satellite communications; defence electronics; air-to-air
refuelling; aviation services; life support and mission
equipment.
Enquiries
John Devaney, Chairman
Julian Wais, Director
of Investor Relations +44 (0) 1202 882020
Elizabeth Harraway, VP, +44 (0) 1202 857998
Communications +44 (0) 771 8694819
Michael Harrison, Brunswick +44 (0) 20 7404 5959
Charles Pemberton, Brunswick +44 (0) 20 7404 5959
This information is provided by RNS
The company news service from the London Stock Exchange
END
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