BAE chief exec resigns

Defence manufacturer BAE Systems has announced that its chief executive Mike Turner will step down in 2008.

Mr Turner has led the company, which used to be called British Aerospace, for the past five years.

During that time, BAE has been accused of using a slush fund to win Saudi defence contracts, allegations that it has strongly denied.

BAE Systems is now looking for his successor. undefined undefined undefined undefined undefined undefined undefined undefined


The company has also been making a big push into the United States in search of business from the Pentagon.

At the same time, Lord Woolf, the former Lord Chief Justice of England and Wales, is currently heading an independent review of business practices at BAE Systems.