BAE senior independent director to stand down

BAE Systems this morning said senior independent director sir Peter Mason will retire in May, less than a month after shareholder Invesco called for him to step down.

Mason’s term of appointment was due to end of 21 January, and he will retire at BAE’s AGM next May. Nick Rose has been named as his replacement, and he will join the board’s nominations committee with immediate effect.

Rose was previously chief financial offer at Diageo, before joining the BAE board in 2010.

In a letter to the board in September, Neil Woodford of Invesco called for chairman Dick Olver and Mason to step down following the collapse of BAE merger talks with EADS.