Meggitt boss to step down

City A.M. Reporter
AIRCRAFT parts supplier Meggitt said yesterday Terry Twigger, its chief executive of over 12 years, is retiring at the end of June.

Stephen Young, the company’s finance director since 2004 and a close colleague of Twigger, will succeed him as chief executive on 1 May, the company said.

Shares in the FTSE 100-listed firm closed up 3.8 per cent at 425p yesterday, buoyed by the new chief executive as well as upgrades from several brokers.