Ultra Electronics PLC (LON:ULE) has announced the appointment of former BBA Aviation PLC (LON:BBA) boss, Simon Pryce as its chief executive officer with effect from 18 June 2018.
The under-pressure defence contractor said Douglas Caster, who assumed the role of Ultra’s executive chairman in November 2017, will revert to being its non-executive chairman on the same date.
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In a statement, the FTSE 250-listed firm noted that Pryce was BBA’s group chief executive officer from 2007 to 2017, leading its transformation from an aggregation of loosely-related aviation and defence businesses to the world's leading business and general aviation service provider despite challenging market conditions.
Prior to joining BBA, Pryce held a number of international finance and management roles at GKN PLC (LON:GKN), and previously worked at JP Morgan and Lazards in London and New York. He is a chartered accountant and a member of the Chartered Institute for Securities and Investment.
Pryce commented: “With overall global defence spending set to recover, the Group is well-positioned in areas of priority spend.“