StockMarketWire.com - Defence and aerospace company BAE Systems said chief executive Jerry DeMuro would stand down from the role at the end of March.

DeMuro would then assume the position of executive vice-president until the end of 2020.

He would be succeeded as CEO by the company's current chief operating officer Tom Arseneault.

'I would like to thank Jerry for his outstanding leadership since his appointment in 2014, both as a highly effective member of the executive team and a valuable contributor to board discussion and decision making,' chairman Roger Carr said.

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