24 April 2007
BBA AVIATION PLC
Appointment of new CEO Simon Pryce
BBA Aviation plc today announces that Simon Pryce will join the Board as Chief Executive Officer with effect from 11th June 2007. He brings Executive Board experience as well as a wealth of strategic and operational skills and a substantial track record in finance and general management. The Board believes that he is the ideal candidate to drive the company forward in this new phase of BBA Aviation’s development. From the 11th June 2007 Michael Harper, currently Executive Chairman, will become non-Executive Chairman.
Having spent nine years at GKN plc in senior corporate finance, financial and international operational roles, Simon Pryce is currently Chief Executive of GKN’s Diversified Businesses Group and sits on the GKN plc Executive Committee. GKN’s Diversified Businesses Group is a portfolio of seven geographically diverse and separate companies with both manufacturing and service focuses, principally in the automotive sector. These businesses have a combined turnover of approximately £800m and some 6,000 employees. In his career at GKN, Simon Pryce has also held the roles of Chief Financial Officer, GKN Automotive, Chief Executive GKN Autocomponents, Managing Director GKN Driveline Aftermarket Operations and Director, Corporate Finance (where he executed a number of transactions in the aerospace sector).
Prior to joining GKN Simon Pryce held several senior positions in
mergers and acquisitions at JP Morgan and Lazards in London and New
York. He is a qualified chartered accountant.
Commenting on the appointment, Michael Harper, Executive Chairman
of BBA Aviation said:
“We are extremely pleased to have secured someone of Simon’s
calibre who brings with him extensive strategic and operational experience
in finance and general management as well as a substantial track record
in transaction execution. In the course of his successful career at
GKN, Simon has been instrumental in the development and implementation
of long-term value creative strategies for a number of GKN’s
businesses as well as the operational management of a portfolio group
of companies with manufacturing and service focuses.
“The business aviation market is strong and we believe that Simon’s skills and experience will be invaluable in driving BBA Aviation’s market leading businesses forward and continuing to play our part as a consolidator in a largely fragmented market. I look forward to working with Simon in my new capacity of non-Executive Chairman of BBA Aviation”
Simon Pryce commented:
“I am delighted to be joining BBA Aviation at this stage in
its development. BBA Aviation has strong and established businesses
that are well positioned in their markets, with enviable relationships
across a broad customer base. BBA Aviation is uniquely placed to take
advantage of the continuing growth in business aviation and I am looking
forward to working with the Board and existing management to capitalize
on both internal and external opportunities to realise BBA Aviation’s
exciting potential.”
Enquiries:
BBA Aviation plc
Michael Harper, Executive Chairman
020 7514 3999
Brunswick Group LLP
Lucie Anne Brailsford / Jemma Hill
020 7404 5959
2005
Preliminary Results Presentation, 28th February 2006