Search Share Prices
Ultra Electronics convinces Simon Pryce to take top job
Ultra Electronics announced the appointment of Simon Pryce as its chief executive officer on Thursday, confirming he will join the group and its board on 18 June.
The FTSE 250 company said Pryce was group chief executive officer of BBA Aviation from 2007 to 2017.
Despite challenging market conditions, it said he led BBA's transformation from an aggregation of loosely-related aviation and defence businesses to "the world's leading" business and general aviation service provider, through effective strategic and portfolio management and a focus on operational performance, financial discipline and cash generation.
"I am delighted to welcome Simon to Ultra," said executive chairman Douglas Caster.
"His broad experience, especially his international, plc and financial background make him an excellent choice as Ultra's next chief executive officer.
"Simon has a proven track record as a strong businessman and the board is confident that he has the qualities to lead Ultra for the next stage of the group's development."
Pryce is a non-executive director of Electrocomponents, a fellow of the Royal Aeronautical Society and a member of the Council of the University of Reading.
Prior to joining BBA Aviation, he held a number of international finance and management roles at GKN, and previously worked at JP Morgan and Lazards in London and New York.
Pryce is a chartered accountant and a member of the Chartered Institute for Securities and Investment.
Douglas Caster, who assumed the role of executive chairman in November last year at the request of the board, would revert to being non-executive chairman on 18 June.
"I am excited to be joining Ultra," said Simon Pryce himself.
"With overall global defence spending set to recover, the group is well-positioned in areas of priority spend. I look forward to working with the Ultra team to ensure its niche technology businesses more than meet customer needs and exceed their expectations through innovative development, co-operation where it makes sense, continued business simplification, cost optimisation and strong operational performance.
"Importantly, this is in the context of a rigorous focus on creating long-term and sustainable value for all Ultra's stakeholders."