Louisa Burdett to succeed Doug Webb as Meggitt CFO

18th Sep 2018 07:36

(Sharecast News) - FTSE 250 aerospace engineer Meggitt said on Tuesday that former Victrex finance director Louisa Burdett will succeed Doug Webb as chief financial officer when he retires at the end of December.Burdett will work with Webb, who is retiring on 31 December, until the end of 2018 to ensure an effective transition. She will succeed Webb as CFO designate on 22 October and become CFO on 1 January 2019.A qualified accountant, Burdett was FD of Victrex from January 2014 until April 2018. Prior to that, she was CFO at Optos and the Financial Times Group and held senior finance positions at Brambles, GE Healthcare and GlaxoSmithKline. She is a non-executive director and chair of the Audit Committee of Electrocomponents, a FTSE 250 multi-channel distributor of industrial and electronics products.Chairman Nigel Rudd said: "I would like to welcome Louisa to Meggitt. The board understands the importance of succession planning and are pleased to ensure an orderly handover as we look to execute on our ambitious strategy. We thank Doug for his significant contribution to Meggitt over the last five years and wish him well for his retirement."Meanwhile, chief executive officer Tony Wood said Burdett bring "significant relevant financial and commercial experience" to the role.At 0930 BST, the shares were down 0.8% to 540.20p.