Page last updated at 06:33 GMT, Friday, 27 June 2008 07:33 UK

New boss appointed at BAE Systems

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BAE has faced inquiries on both sides of the Atlantic

Defence giant BAE Systems has appointed Ian King as its new chief executive.

Currently its chief operating officer, Mr King will succeed Mike Turner in September when the current boss steps down as previously announced.

BAE Systems has expanded fast in recent years, especially in the US where it is now a leading government contractor.

But it has been dogged by corruption allegations and past business deals are currently being investigated by the US Department of Justice.

'Track record'

Mr Turner was briefly detained at Houston airport in May when he and an unnamed senior colleague were spoken to and had electronic equipment examined.

The US authorities are looking into claims that bribes were paid to secure a huge arms deal with Saudi Arabia in the early 1990s.

BAE Systems has always denied any wrongdoing.

The UK Serious Fraud Office controversially abandoned its inquiry into the deal last year after the government said it threatened national security.

A recent independent report concluded that BAE had not, in the past, paid sufficient attention to ethical standards in the way it conducted business.

BAE Systems said Mr King was an "experienced" executive with a "proven track record".

"His depth of knowledge of the global defence industry will benefit the continued progression of the successful strategy that has been pursued by the company," chairman Dick Olver said.

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