Ultra is pleased to announce the appointment of Simon Pryce as its Chief Executive Officer. He will join the Group and its Board on 18 June 2018.
Simon was Group Chief Executive Officer of BBA Aviation plc (“BBA”) from 2007 to 2017. Despite challenging market conditions, Simon led BBA’s transformation from an aggregation of loosely-related aviation and defence businesses to the world’s leading business and general aviation service provider, through effective strategic and portfolio management and a focus on operational performance, financial discipline and cash generation.
Simon is a non-executive director of Electrocomponents plc, a Fellow of the Royal Aeronautical Society and a member of the Council of the University of Reading. Prior to joining BBA Aviation, he held a number of international finance and management roles at GKN plc, and previously worked at JP Morgan and Lazards in London and New York. He is a chartered accountant and a member of the Chartered Institute for Securities and Investment.
Douglas Caster, who assumed the role of Executive Chairman in November 2017 at the request of the Board, will revert to being non-executive Chairman on 18 June 2018.
Douglas Caster, Executive Chairman, commented:
"I am delighted to welcome Simon to Ultra. His broad experience, especially his international, plc and financial background make him an excellent choice as Ultra’s next Chief Executive Officer. Simon has a proven track record as a strong businessman and the Board is confident that he has the qualities to lead Ultra for the next stage of the Group’s development.”
Simon Pryce commented:
“I am excited to be joining Ultra. With overall global defence spending set to recover, the Group is well-positioned in areas of priority spend. I look forward to working with the Ultra team to ensure its niche technology businesses more than meet customer needs and exceed their expectations through innovative development, co-operation where it makes sense, continued business simplification, cost optimisation and strong operational performance. Importantly, this is in the context of a rigorous focus on creating long-term and sustainable value for all Ultra’s stakeholders.”
This announcement is made in accordance with paragraph 9.6.11 of the Listing Rules. There are no details on Simon to be disclosed under paragraph 9.6.13 (2) to (6) of the Listing Rules.
Ultra Electronics Holdings PLC
Douglas Caster, Executive Chairman 020 8813 4307
Susan McErlain, Corporate Affairs Director 07836 522 722
James White, MHP Communications 020 3128 8756