BAE set to name new chairman

BAE at Warton
BAE at Warton
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Defence giant BAE Systems is set to name City veteran Sir Roger Carr as its next chairman, according to reports today.

Sir Roger, who is the outgoing president of the CBI lobby group and was chairman of Cadbury during its £10 billion takeover by Kraft, is being lined up to replace Dick Olver, who has held the role for nine years.

Chairman of BAE Systems

Chairman of BAE Systems

The Sunday Times said that BAE’s board has not made a final selection but that Sir Roger has spoken with directors leading the search. His name has been put to the Ministry of Defence, which has the power to veto an appointment through the Government’s special share in the company.

The appointment of Sir Roger, who has been chairman of British Gas owner Centrica since 2004, is reportedly due at the end of June or early July.

The post is one of the highest profile in the City as BAE employs about 100,000 people worldwide and is a major player in the US defence market.

It builds the Typhoon fighter jet and nuclear submarines and provides companies and governments with cyber security. Last year, BAE failed in an attempt to merge with Europe’s EADS, the owner of Airbus.

The failure of the merger led to calls from BAE’s biggest shareholder for Mr Olver to stand down.