Meggitt PLC announced that Stephen Young, Chief Executive, has advised the Group of his intention to retire at the end of April 2018. Stephen has served as Meggitt's Chief Executive for 5 years and, prior to that, for 9 years as Finance Director. He will be succeeded as Chief Executive by Tony Wood on 1 January 2018, who has been Meggitt's Chief Operating Officer since December 2016.

Stephen will step down from the Board on that date, and will continue to work closely with the Board and Tony to ensure an orderly transition, until his retirement on 30 April 2018.