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Charles Woodburn appointed as Chief Operating Officer

Charles Woodburn - COO
BAE Systems plc announces the appointment of Charles Woodburn in the newly-created role of Chief Operating Officer.  Charles will report to Ian King, Chief Executive as an Executive Committee member and will be appointed to the BAE Systems plc Board as an executive director during the second quarter of 2016
Charles brings with him over 20 years’ international experience from the oil and gas industry gained in a number of senior management positions.
 
A British citizen, Charles held a number of senior management positions in the Far East, Australia, France and the United States during a 15-year career at Schlumberger.  For the last five years, he has been CEO of Expro, an oilfield services business owned by a consortium including Goldman Sachs and Arle Capital Partners. He is a non-executive director of Seadrill Limited.
 
His operational experience has been built on a strong academic foundation having gained a First Class Honours Degree in Electrical Sciences and a PhD in Engineering from Cambridge University.  He later completed an MBA at Erasmus University, Rotterdam.
 
Announcing the appointment, Ian King, Chief Executive, BAE Systems plc said:
“As a highly qualified engineer with considerable international business experience, Charles will strengthen and broaden the strategic and operational capabilities of the business as a welcome and valuable addition to the leadership team.”
 
Sir Roger Carr, Chairman, BAE Systems plc said:
“I am delighted that we have secured an individual of considerable talent and proven industrial experience as part of our succession planning programme.  Charles will bring fresh perspective to the Company’s operations and Board, whilst building a detailed knowledge of the defence industry under the guidance of Ian King.”
 
Charles Woodburn said: “BAE Systems is one of the world’s leading defence companies with a broad and diverse portfolio of products and services, supporting major government and commercial customers around the world.  I look forward to contributing to the Company’s continued growth and development.”
 
Other than as detailed above, Mr. Woodburn has no details to disclose under Listing Rule 9.6.13.
 

Notes to editors:

 
Charles Woodburn biographical details:
 

Education: 

 
1989 - 1992 Cambridge University - St. John's College, Bachelor's with First Class Honours in Electrical and Information Sciences (Electrical Engineering)
1992 - 1995 Cambridge University - St. John's College, Doctor of Philosophy in Engineering
2003 - 2005 Erasmus University, Rotterdam - Master of Business Administration
 

Career history:

 
1995 - 2010 Schlumberger Ltd.
1995 - 2004 Engineering and Field Management roles in Thailand, Australia, USA
2004 - 2010 Senior management roles including Product Line President Wireline and Vice President Engineering, Manufacturing and Sustaining (EMS)
2010 - 2015 Expro Group  -  CEO
 

Remuneration

 
Remuneration arrangements are in line with the Company's Remuneration Policy approved by shareholders.  
- Base salary of £750,000
- Eligible for participation in the BAE Systems plc Annual Incentive and Long Term Incentive Plan 
- Minimum Shareholding Requirement of 200% of base salary
 

One-off payment for forfeited earnings

 
In accordance with the Remuneration Policy, the Company will buy out certain incentives previously awarded by Expro and forfeited as a consequence of joining BAE Systems at a level consistent with the fair value at the time of recruitment.
 
-  £1.62 million in respect of incentives earned and payable within 6 months*
-  One-off grant of performance shares under BAE Systems long-term incentive plan
 
* 50% of the net amount must be used to purchase BAE Systems shares within 120 days following payment.
 
Issued by:

BAE Systems plc

London