Babcock Regulatory News (BAB)

1 July 2020

Babcock appoints new Chief Executive 

Babcock International Group PLC (Babcock), the aerospace and defence company, announces the appointment of David Lockwood as CEO, succeeding Archie Bethel, who earlier this year announced his intention to retire. David will join the Company and the Board on 17 August 2020 as CEO designate and will become CEO on 14 September 2020, at which point Archie will step down from the Board.

David was previously CEO of Cobham plc, one of the UK's largest defence companies and a leading global technology and services innovator. Prior to that, he was CEO of Laird PLC, a FTSE 250 technology company, from 2012 to 2016.

His career includes senior management roles at BT Global Services, BAE Systems and Thales Corporation. David has a Degree in Mathematics from the University of York and is a chartered accountant. He is a Fellow of the Royal Aeronautical Society and the Royal Society of Arts and Commerce. He received an OBE for services to industry in Scotland in 2011.

Ruth Cairnie, Chair, said:

"After an extensive search and selection process, I am delighted to welcome David to the Company. He brings wide-ranging knowledge of the defence and aviation markets, as well as a wealth of experience in both technology and innovation. His skills and industry expertise will help ensure the delivery of our operational performance and strategic objectives.

"I would like to thank Archie for his outstanding contribution to Babcock over 16 years. He enhanced our deep relationship with our customers, reflected in our record order book and pipeline, and made significant progress in internationalising the Company and streamlining our portfolio. We have been very fortunate to have a leader with such profound knowledge of the business. Archie will retire from the Board with our very best wishes and our sincere appreciation for everything he has achieved."

Archie Bethel said:

"It has been an honour and a privilege to serve at Babcock, which makes a unique contribution to national security and to saving lives. I would like to thank all our employees worldwide for their hard work and commitment over my time of service, which has been exemplified in their outstanding response to the pandemic."

David Lockwood said:

"I am looking forward to joining Babcock, a company I have long respected, which makes such an important contribution to the critical markets it serves. This is an exciting opportunity to position Babcock for further success and future growth, and to make full use of technology and innovation to support customers in the UK and internationally."

ends

For further information please contact:

Babcock International Group PLC

Simon McGough Kate Hill

Director of Investor Relations Group Director of Communications

Tel: +44 (0)7850 978 741 Tel: +44 (0)20 7355 5312

FTI Consulting

Nick Hasell, Alex Le May

Tel: +44 (0)20 3727 1340

Notes:

Babcock will make available the details relating to Archie Bethel required by section 430(2B) of the Companies Act 2006 in September. As Archie is retiring, he will be a good leaver in respect of Babcock's incentive schemes. The final arrangements will be in line with Babcock's remuneration policy.

Babcock will include the details of David's remuneration arrangements in the 2021 Remuneration Report but the key elements are as follows:

· Base salary of £800,000 per annum;

· Pension allowance of 10% of salary;

· Benefits in line with Babcock's remuneration policy;

· Eligible to participate in the Directors' annual bonus scheme up to 150% of salary (40% of which will be deferred for three years under Babcock's deferred bonus scheme) and Babcock's long term incentive plan up to an annual award of 200% of salary in respect of performance shares.

Babcock is not required to buy out any pre-existing arrangements.

In relation to Listing Rule 9.6.13R(1), David has no current directorships of publicly quoted companies and no such directorships in the previous five years other than those referred to above. In relation to Listing Rule 9.6.13R(2)-(6), there are no details to disclose in relation to David.