Archie Bethel appointed new Chief Executive of Babcock
Peter was appointed Chief Executive of the Group in August 2003. During his 13-year tenure Babcock has grown from a small cap business to a FTSE 100 company with a turnover of £4.5 billion in 2014/15, delivering an increase of some 1200 per cent in total shareholder return over the period.
Archie Bethel (right) is currently Chief Executive of the Marine & Technology division and has been an integral part of Peter’s senior management team since joining Babcock in 2004, overseeing the successful development and growth of the Group’s Marine & Technology business both in the UK and overseas. To ensure a smooth handover of responsibilities, Archie will take the role of Chief Operating Officer from 1 April 2016 until Peter’s retirement.
The Board is also pleased to announce that Archie will be succeeded by John Howie who is currently Managing Director of Naval Marine with responsibility for the management of Babcock’s submarine, warship and naval base operations, and a member of the divisional executive. John will take the role of Chief Executive of the Marine & Technology division with effect from 1 April 2016, and will join the Group’s Executive Committee.
Babcock Chairman Mike Turner said: “Peter has been an outstanding Chief Executive. Under his leadership, Babcock has grown into one of the UK’s leading businesses, whilst maintaining an enviable track record of delivery to customers and shareholders.
“I am delighted that Archie will be taking the role of Chief Executive. Archie has overseen the successful growth of the Group’s largest division from a £273 million business in 2004 to a £1.6 billion business today, whilst reinforcing our reputation of being trusted to deliver increasingly complex and critical engineering programmes. Our thorough succession planning process, which involved close consideration of potential internal and external candidates, confirmed that he is the right person, with the right skills and experience to lead the Group as it continues to develop and achieve its strategy over the coming years.”
Peter Rogers said: “It has been a privilege to lead Babcock. This is a unique company staffed by great people and I am very proud of what we achieved together. I’m delighted that the Board has chosen Archie to succeed me. Archie has played a vital part in our success to date, and his skills, expertise and deep understanding of the business make him the ideal person to drive future growth both in the UK and internationally.”
Archie Bethel said: “I’m looking forward to taking on my new role. Our business model is proven and, together with my colleagues, I look forward to continuing to implement our strategy to deliver profitable growth and significant returns for shareholders as we continue to expand both at home and abroad.”