New CEO appointed at defence supplier

Defence supplier Ultra Electronics has announced the appointment of Simon Pryce as chief executive.

Pryce was group CEO of BBA Aviation from 2007 to 2017.

Despite challenging market conditions, he led BBA’s transformation from an aggregation of loosely-related aviation and defence businesses to the world’s leading business and general aviation service provider, through strategic portfolio management and a focus on operational performance, financial discipline and cash generation.

Prior to joining BBA Aviation, he held a number of international finance and management roles at GKN, and previously worked at JP Morgan and Lazards in London and New York.

Douglas Caster, who assumed the role of executive chairman in November 2017 at the request of the board, will revert to being non-executive chairman in June, when Pryce takes the helm.

Caster said: “I am delighted to welcome Simon to Ultra.  His broad experience, especially his international, plc and financial background make him an excellent choice as Ultra’s next chief executive officer. Simon has a proven track record as a strong businessman and the Board is confident that he has the qualities to lead Ultra for the next stage of the group’s development.”

Pryce added: “I am excited to be joining Ultra. With overall global defence spending set to recover, the Group is well-positioned in areas of priority spend. I look forward to working with the Ultra team to ensure its niche technology businesses more than meet customer needs and exceed their expectations through innovative development, co-operation where it makes sense, continued business simplification, cost optimisation and strong operational performance. Importantly, this is in the context of a rigorous focus on creating long-term and sustainable value for all Ultra’s stakeholders.”

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