27 Mar 2006
The Rt Hon Michael Portillo is standing down from the Board of BAE Systems at the conclusion of the Companys AGM to be held on 4 May 2006.
Mr Portillo has decided to stand down because of problems that might arise from his other work as a political journalist.
Mr Portillo commented in his letter of resignation that in his work in the media it is important to him to be able to speak freely and on any topic. There is a danger that his views might be thought to represent the position of the Company, or alternatively be thought to be at variance with the Companys views. Having considered the problem carefully he believes that it can only be resolved by standing down from the Board.
Michael Portillo joined the Board in September 2002 and since has become a regular political commentator on the BBC television programme This Week and he also writes a column in The Sunday Times.
Michael Portillo said: I have greatly enjoyed serving on the Board of BAE Systems and would like to congratulate the Company on its achievements.
Dick Olver, Chairman of BAE Systems commented: We truly benefited from Mr Portillos presence on the Board and from his long political experience. We are sorry that his other work makes it difficult for him to continue with us and we wish him well.
About BAE SYSTEMS
BAE Systems is the premier transatlantic defence and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions and customer support services. With more than 100,000 employees worldwide, BAE Systems sales exceeded GB 15.4 billion (US$28 billion) in 2005.
For further information, please contact:
John Neilson, BAE Systems
Tel: + 44 (0)1252 384795 Mobile: + 44 (0)7802 337 704
Email: john.neilson@baesystems.com
Lisa Hillary-Tee, BAE Systems
Tel: + 44 (0)1252 384934 Mobile: + 44 (0)7801 718 994
Email: lisa.hillary-tee@baesystems.com
