Babcock to get new CEO
Peter Rogers is retiring as chief executive of engineering group Babcock International after 13 years in the job.
He will be succeeded by Archie Bethel, an internal promotion.
Peter Rogers will retire on 31st August 2016. Since starting the job in August 2003 he has seen Babcock grow to a £4.5bn turnover business, delivering an increase of 1200% in total shareholder return over the period.
His successor, Archie Bethel, is currently chief executive of Babcock’s Marine & Technology division and has been part of the senior management team since joining Babcock in 2004.
Babcock chairman Mike Turner said: "Peter has been an outstanding chief executive. Under his leadership, Babcock has grown into one of the UK's leading businesses, whilst maintaining an enviable track record of delivery to customers and shareholders.”
He added: "I am delighted that Archie will be taking the role of chief executive. Archie has overseen the successful growth of the group's largest division from a £273m business in 2004 to a £1.6bn business today, whilst reinforcing our reputation of being trusted to deliver increasingly complex and critical engineering programmes. Our thorough succession planning process, which involved close consideration of potential internal and external candidates, confirmed that he is the right person, with the right skills and experience to lead the group as it continues to develop and achieve its strategy over the coming years."
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This article was published on 28 Jan 2016 (last updated on 28 Jan 2016).