Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Twitter Inc. on Friday unlocked the New York Post's Twitter account after a two-week stalemate over posting links to its reporting about Hunter Biden. Walmart has removed guns and ammunition from its store shelves in the U.S. as a precautionary measure following the unrest in Philadelphia after a Black man was fatally shot by police, according to reports. While the firearms will be available for purchase at the Walmart stores, customers will be required to specifically request for them. Regeneron Pharmaceuticals Inc. (REGN) said Friday that the independent data monitoring committee or IDMC for the REGN-COV2 antibody cocktail treatment trials for COVID-19 has recommended to hold further enrollment in hospitalized patients requiring high-flow oxygen or mechanical ventilation.
Follow RTT