Meggitt PLC (MGGT.L) announced that Terry Twigger, Chief Executive, has advised the Group of his intention to retire as Chief Executive and to step down from the Board. Terry will be succeeded as Chief Executive by Stephen Young, who has been Finance Director of Meggitt since 2004. Terry will retire from the Board and Stephen will assume the role of Chief Executive immediately following the Annual General Meeting on 1 May 2013.
Terry will continue as an employee and provide support to the Board and Stephen Young until his retirement on 30 June 2013.
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