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Meggitt chairman puts retirement on hold to oversee coronavirus ventilator effort

Meggitt is leading a consortium of companies working on producing ventilators to help with the national shortage

Meggitt PLC -
Meggitt's core business is aerospace

Meggitt PLC (LON:MGGT) chairman Nigel Rudd has put his retirement plans on hold to lead the aerospace engineer through the coronavirus pandemic.

The FTSE 100 company has agreed with Rudd that he will stay on as chairman until further notice, with succession plans paused.

"Although he still intends to retire in due course, the board believes that there is significant benefit in continuity at this time," the company said in a statement on Wednesday.

Meggitt is one of the British companies that is working on producing ventilators to help with an expected national shortfall as cases in the country surge.

 

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Price: 356.6 GBX

LSE:MGGT
Market: LSE
Market Cap: £2.78 billion
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