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Babcock CEO Archie Bethel To Retire; Names Russ Houlden Non-Executive Director

Aerospace and defence company Babcock International Group Plc. (BAB.L) Wednesday announced that Archie Bethel intends to retire from his role as Director and Group Chief Executive after 16 years with the company.

The Company has initiated the process to appoint his successor, until then Bethel will remain in his role as Chief Executive and continue to drive the Company's strategic and operating plans.

Further, the company announced the appointment of Russ Houlden as a Non-Executive Director with effect from April 1. The appointment follows Ian Duncan's decision to retire from the Board, having served his nine-year term.

Initially, Houlden will join Babcock as a Non-Executive Director, but he will become the Chair of the Audit and Risk Committee following Babcock's AGM in July 2020, when Duncan will step down from the Babcock Board.

Houlden has been Chief Financial Officer of United Utilities Group PLC since October 2010. In order to free up sufficient time for his non-executive roles, Houlden will be stepping down from his CFO role at the UU AGM in July 2020.

Babcock Board is also undertaking a search for a successor to David Omand as Senior Independent Director, which is progressing well.

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