The company’s board has chosen Harry Holt, the current CEO of Babcock’s nuclear sector, as his successor. Holt will take the newly created role of deputy CEO and join the board in June as part of the handover.
David Lockwood joined Babcock as group chief executive in September 2020. The company credits him with the business achieving a “successful strategic and financial transformation” during his tenure.
Growth
“David has been an exceptional chief executive,” said Dame Ruth Cairnie DBE, Babcock chair. “Having delivered a strategic and financial transformation and set the business on a pathway of sustainable profitable growth, he leaves Babcock in a very strong position for the future, where the group’s unique capabilities have never been more relevant.
“On behalf of the board, I would like to thank David for his excellent leadership that has transformed Babcock into a leading global defence business, creating significant shareholder value, as well as returning Babcock to the FTSE100.”
David Lockwood
For his part, Lockwood (above) highlighted the changes undergone by the company, and welcomed his successor: “It has been my privilege to lead Babcock, through a period that has seen the Covid pandemic, international geopolitical unrest and an increased focus on global security. Babcock is a unique company, it has a team of great people, with a range of important skills, alongside some of the most critical specialist infrastructure needed today. I am proud to leave Babcock well-positioned to deliver on the opportunities ahead in this new era in international defence and security.
“I am delighted that the board has chosen Harry to succeed me. Harry has been a key member of my senior management team. His skills, expertise and deep knowledge of the business make him the ideal person to drive Babcock forward and I look forward to supporting this transition.”
Harry Holt
Prior to joining the company, Harry Holt spent seven years on the executive team of Rolls Royce in a number of senior roles, including president of its nuclear division and latterly as chief people officer.
His industrial career has also included a range of senior appointments across multiple organisations in the aerospace, defence, security and nuclear sectors.
Before joining Rolls-Royce, he was an officer in the British Army.
“With our great people and our financial strength, we have the means to confidently address the exciting opportunities before us and to continue to deliver for our customers, colleagues, and communities, while creating long-term value for our shareholders,” said Holt.
“I look forward to working with the executive team, as well as colleagues throughout the business to continue the disciplined delivery of our strategy. In these uncertain times, our collective purpose to create a safe and secure world has never been more important.”
Image: Babcock International
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