BAE Systems PLC Chief Operating Officer Charles Woodburn will start a series of meetings with clients and suppliers sometime in October or November as part of preparations to succeed Ian King as CEO of the British defense contractor, Bloomberg reported Wednesday.
Benjamin Katz and David Hellier report that Woodburn will assume a bigger role with outside stakeholders while King will continue to serve as chief executive until at least February 2017.
Woodburn joined BAE in February after working as CEO of oilfield services company Expro.
Shares in GovCon Index-listed BAE were flat on U.S. over-the-counter markets as of 12:00 p.m. Eastern time Wednesday and closed down 0.28 percent on the London Stock Exchange.
The two-decade oil and gas industry veteran will oversee the development of a warship for the U.K. navy and a replacement for Britain’s Trident nuclear missile system upon his elevation to the chief executive post, Bloomberg stated.
Woodburn’s potential tasks as CEO also include the development of an unmanned combat air vehicle through a joint venture with Rolls-Royce, Thales SA and Safran SA, Katz and Hellier reported.
