Meggitt goes for continuity as chairman postpones decision to retire

Engineering firm for the aerospace industries, Meggitt, has said that chairman Sir Nigel Rudd will be staying on as chairman in light of the coronavirus crisis.

Rudd announced he would step down last month and the firm has been looking for a successor. However, he will now delay his departure.

In a statement this morning, Meggitt said: “In light of the outbreak of the Covid-19 pandemic and its impact on the global economy, the wider aerospace sector and the Group, the Succession Committee led by Guy Berruyer has agreed with Sir Nigel Rudd and the Board of directors that Sir Nigel will stay on as chairman until further notice.

“Although he still intends to retire in due course, the Board believes that there is significant benefit in continuity at this time.”