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Ultra Electronics appoints former BBA Aviation boss, Simon Pryce as its chief executive officer

The defence contractor said Douglas Caster, who assumed the role of Ultra’s executive chairman in November 2017, will revert to being its non-executive chairman on the same date
Fighter jet firing missiles
Pryce was BBA’s group chief executive officer from 2007 to 2017 l

Ultra Electronics PLC (LON:ULE) has announced the appointment of former BBA Aviation PLC (LON:BBA) boss, Simon Pryce as its chief executive officer with effect from 18 June 2018.

The under-pressure defence contractor said Douglas Caster, who assumed the role of Ultra’s executive chairman in November 2017, will revert to being its non-executive chairman on the same date.

READ: Ultra Electronics shares plunge as it posts lower 2017 profit and ditches Sparton merger

In a statement, the FTSE 250-listed firm noted that Pryce was BBA’s group chief executive officer from 2007 to 2017, leading its transformation from an aggregation of loosely-related aviation and defence businesses to the world's leading business and general aviation service provider despite challenging market conditions.

Prior to joining BBA, Pryce held a number of international finance and management roles at GKN PLC (LON:GKN), 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.

Pryce commented: “With overall global defence spending set to recover, the Group is well-positioned in areas of priority spend.“

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