- Defence supplier Chemring said Tuesday that Group Chief Executive Michael Flowers has decided to retire and will leave the group on 31 October.

The firm appointed Michael Ord as Michael Flowers' successor. Mr Ord is expected to join Chemring on 1 June, and take over as Group Chief Executive on 1 July 2018.

Michael Ord held a number of senior roles across air, land and sea platforms, including Managing Director of the BAE Systems Naval Ships business and Managing Director of the BAE Systems F-35 Joint Strike Fighter business.

'Michael Flowers has led Chemring since June 2014 through a period of significant transformation,' said Carl-Peter Forster, Chairman of Chemring.

'Michael Ord has a proven track record within the international defence industry, most notably at BAE Systems, and I am certain that he has all the necessary skills and experience to enable Chemring to deliver growth over the next stage of Chemring's progression.' At 9:30am: [LON:CHG] Chemring Group PLC share price was -0.25p at 208.75p

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