BAE Systems, Inc. Announces Leadership Transition on Board of Directors

Rhea-AI Summary

BAE Systems announced a leadership transition on its Board of Directors. Former U.S. Senator Kelly A. Ayotte will step down as Chair to run for Governor of New Hampshire. Retired U.S. Navy Admiral Jonathan W. Greenert will succeed her as Chair. Admiral Greenert, a board member since April 2016, has an extensive 40-year military career, including six years as Chief of Naval Operations. His expertise in management, operations, and strategic planning is expected to drive innovation and growth at BAE Systems. The company operates under a Special Security Agreement with the U.S. Government, allowing it to supply defense-related products and services. The complete Board of Directors list is available on the company's website.

Positive

• Admiral Jonathan W. Greenert's extensive military experience, including as Chief of Naval Operations, adds significant value to BAE Systems' leadership.
• Greenert's background in advanced weaponry and uncrewed underwater vehicle technologies aligns with BAE Systems' innovation goals.
• The leadership transition is expected to drive innovation and future growth for the company.
• BAE Systems' compliance with U.S. government security and export regulations ensures its ability to supply defense products and services.

Negative

• Kelly A. Ayotte's departure could lead to a temporary gap in experienced leadership during the transition period.
• The leadership change may cause short-term uncertainty among investors regarding the company's strategic direction.

FALLS CHURCH, Va.--(BUSINESS WIRE)-- BAE Systems, Inc. today announced that former U.S. Senator Kelly A. Ayotte will step down as the Chair of the Board of Directors as she embarks on an official run for Governor of New Hampshire. We extend our deepest gratitude to Kelly for her outstanding contributions and long service to the Company.

We are pleased to announce that current board member retired U.S. Navy Admiral Jonathan (Jon) W. Greenert will assume the role of Chair of the Board of Directors. Jon joined the BAE Systems, Inc. Board in April 2016 and brings a wealth of knowledge and expertise from his distinguished 40-year career as a senior military officer and government leader. His background in management, operations, and strategic planning are highly valuable as we continue to drive innovation and growth at BAE Systems.

Prior to his retirement, Admiral Greenert served a combined six years as the Chief of Naval Operations (CNO) and Vice Chief of Naval Operations, the two most senior military positions in the Navy. As CNO, he served as a member of the Joint Chiefs of Staff. He advised the President and the Secretary of Defense on a range of matters, including U.S. and global maritime security, overall naval operations and budget, and the positioning of Navy bases, ships, and aircraft. He also oversaw the development of technologies in such areas as advanced weaponry and uncrewed underwater vehicles.

We wish Kelly all the best in her future endeavors and are confident that Jon’s expertise will ensure continued strong leadership for BAE Systems.

BAE Systems, Inc., a U.S. corporation, operates under a Special Security Agreement (SSA) between the U.S. Government, BAE Systems, Inc., and BAE Systems plc. The agreement calls for the appointment of outside directors who help to oversee the Company’s compliance with U.S. government security and export regulations, thereby allowing BAE Systems to supply products and services to the Department of Defense, Intelligence Community, Homeland Security, and other agencies involved in U.S. national defense.

A complete list of the Inc. Board of Directors is available on the Company’s website.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240614867800/en/

Veronica Bonilla, BAE Systems

Mobile: 571-488-0456

veronica.bonilla@baesystems.us

www.baesystems.com/US

@BAESystemsInc

Source: BAE Systems, Inc.

FAQ

Who is the new Chair of the Board of Directors at BAE Systems (BAESY)?

Retired U.S. Navy Admiral Jonathan W. Greenert is the new Chair of the Board of Directors at BAE Systems.

Why is Kelly A. Ayotte stepping down as Chair of BAE Systems' Board?

Kelly A. Ayotte is stepping down to run for Governor of New Hampshire.

When did Jonathan W. Greenert join the BAE Systems Board?

Jonathan W. Greenert joined the BAE Systems Board in April 2016.

What experience does Admiral Greenert bring to his new role at BAE Systems?

Admiral Greenert has a 40-year military career, including serving as Chief of Naval Operations and Vice Chief of Naval Operations.

How does BAE Systems comply with U.S. government regulations?

BAE Systems operates under a Special Security Agreement with the U.S. Government, ensuring compliance with security and export regulations.

What is the significance of the Special Security Agreement for BAE Systems?

The Special Security Agreement allows BAE Systems to supply products and services to U.S. defense and security agencies.