Chemring has appointed Steve Bowers as group finance director (FD). He will take up his position with the UK company, which provides technology and electronics to the aerospace and defence industries, on 7 January, replacing Nigel Young who was appointed as interim chief financial officer (CFO) in July 2012.
Bowers was previously FD at Umeco, also an aerospace and defence supplier, for 13 years until it was purchased last July by Cytec UK Holdings. He qualified as a chartered accountant while working for KPMG.
His appointment follows the arrival in November of Mark Papworth as chief executive officer (CEO) of Chemring, who has initiated a strategic review. A recovery plan is expected to be issued later this month. US private equity group Carlyle recently decided against bidding for the group, which issued two profits warnings last year.
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