Meggitt PLC (LON:MGGT) has today announced that Sir Nigel Rudd, Chairman, intends to step down as Chairman and Director of the Company to spend more time on his business and other interests. Sir Nigel will remain as Chairman until his successor is appointed, but will not seek re-election at the 2021 AGM. Guy Berruyer, Senior Independent Director, will lead the search for his successor.
Sir Nigel was appointed as Chairman in 2015, and has led the Board through a period of growth and significant change for the Group, including importantly the transition of Chief Executive and Chief Financial Officer.
Sir Nigel said:
“It has been a privilege and a pleasure to serve as the Chairman of Meggitt. Since 2015, we have focused on establishing Meggitt as a truly world-class, innovative, global aerospace, defence and selected energy business and I am very proud that in 2019 the company returned to the FTSE 100 index. It has been a pleasure to work alongside the Board and senior management team during this time to determine and deliver the Group’s vision and strategy, and lay the groundwork for future growth. I will work to ensure a seamless transition to my successor.”