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537.50 -3.50 (-0.65%)

Bid:

532.50

Ask:

533.50

Spread: 1.00 (0.188%)

Market Cap: £1.45b

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Chemring appoints interim CFO

Fri, 27th Jul 2012 07:56

Military counter-measures specialist Chemring has appointed Nigel Young as its interim Chief Financial Officer with immediate effect, replacing Paul Rayner, who will step down on July 31st. 59-year-old Young has considerable experience within both the defence and manufacturing industries. He was finance director of United Scientific Holdings, First Technology and Babcock International. More recently, he was Group Finance Director of the FTSE 250 company, Morgan Crucible, until he retired in 2004. Since then Young has undertaken a number of charitable, interim and consultancy roles, including the UK Atomic Energy Authority and McBride.Rayner, who has been Chemring's chief bean-counter since 1999. announced his decision to step down from the role back in March.The process of selecting a permanent candidate for the role of Chief Financial Officer is ongoing, and the group will make a further announcement in due course, Chemring said. NR