Jane Edwards
BAE Systems CEO Charles Woodburn has said the company will continue to stick to its strategy that works to build up strengths and focuses on “evolution,†Reuters reported Wednesday.
“It’s very much a case of evolution not revolution,†Woodburn told reporters Wednesday.
“It’s a good strategy bolstered by the macro environment we now operate in.”
His remarks came after the U.K.-based defense contractor posted an 11 percent increase in profits at approximately $1.25 billion during the first half of 2017.
Woodburn said BAE expects to benefit from increases in defense spending by governments and cited the collaboration between the company’s U.S. and Australian business units on the Land 400 combat vehicle project.
Woodburn succeeded Ian King as CEO in June after he served as BAE’s chief operating officer for more than year.
He is a two-decade oil and gas industry veteran who held senior leadership roles at Expro Group and Schlumberger.
