Cobham picks BAE man Murray to be its new chief executive

 
Marion Dakers
Defence company Cobham has hired Robert Murphy, a member of BAE Systems' executive committee, as its new chief executive.

Murphy will take up his new role on 25 June, replacing Andy Stevens, who is taking early retirement due to a recurring back injury but will remain on the board until further notice to smooth the handover.

Murphy’s appointment marks the end of a five-month search for the new chief exec of Cobham. He is currently executive vice president of BAE Systems’ product sectors, based in the US. He will relocate to the UK to be near Cobham’s Dorset offices.

BAE confirmed the move, adding in a short statement that employees who were working under him will report to chief executive Linda Hudson until a replacement can be found.

FTSE 250-listed Cobham is currently pursuing Danish satellite communications company Thrane & Thrane, renewing its £270m offer earlier this month having withdrawn its bid.

The firm has said its offer represents a 43 per cent premium to the price at which Thrane & Thrane shares were trading before news of its approach broke in February.