Submarine-fixer Babcock has hired Ruth Cairnie as its new chair. Her main fix for reversing a 40 percent slump in the firm’s share price since last June should be to target a much greater proportion of sales from overseas, says aimeedonnellan:
Britain’s Babcock International Group said on April 3 that Rolls-Royce non-executive director Ruth Cairnie would take over from outgoing chairman Mike Turner, becoming the first woman to hold the role at the engineering and defence services provider.
Babcock, a key supplier to Britain’s Ministry of Defence, said Cairnie will assume the role on Turner’s retirement at the annual general meeting on July 18. The incoming chairwoman has 37 years of industry experience, which includes her non-executive director stint at the jet-engine maker since 2014, and nine years at Royal Dutch Shell.
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