BAE Systems Inc. Chief Executive Officer Linda P. Hudson has announced plans to retire next year. BAE Systems Inc. is the U.S. arm of London-based defense contractor BAE Systems plc (NASDAQOTH:BAESY).
Hudson, 62, joined BAE in 2007 as president of its Land & Armaments operating group, and took over as CEO in 2009. She announced Tuesday that she plans to retire from the post sometime after Q1 2014. Hudson will remain in charge of the company until that time "to ensure a seamless transition," and subsequently serve as an outside director of the company through April 2015.
In thanking her for her service, BAE Systems plc CEO Ian King credited Hudson for managing "the transformation of BAE Systems, by streamlining the organization, reducing costs, increasing efficiency and speed to market, and diversifying the company's portfolio of products and services."
The parent company's shares, up 36% over the past 52 weeks, are up 0.8% today, trading around $27.76.