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Babcock's Lord Hesketh resigns amid carrier row | |
(40 minutes later) | |
The deputy chairman of Babcock, Lord Hesketh, has resigned after he called the Royal Navy's aircraft carrier programme a "disaster". | The deputy chairman of Babcock, Lord Hesketh, has resigned after he called the Royal Navy's aircraft carrier programme a "disaster". |
His resignation from the engineering group follows a report in the Daily Telegraph newspaper in which he was reported as saying the project would make the country a "laughing stock". | His resignation from the engineering group follows a report in the Daily Telegraph newspaper in which he was reported as saying the project would make the country a "laughing stock". |
Babcock is building the carriers at its shipyard in Rosyth. | Babcock is building the carriers at its shipyard in Rosyth. |
Earlier on Monday it issued a statement distancing itself from the report. | Earlier on Monday it issued a statement distancing itself from the report. |
Last month's defence review revealed that £5.2bn would be spent on two new carriers | Last month's defence review revealed that £5.2bn would be spent on two new carriers |
For three years there will be only one aircraft carrier, in any case, the planes being built for the vessels will not be ready until 2020. | For three years there will be only one aircraft carrier, in any case, the planes being built for the vessels will not be ready until 2020. |
Lord Hesketh's resignation takes place with immediate effect. | Lord Hesketh's resignation takes place with immediate effect. |
He has been non-executive deputy chairman of Babcock since 1996 and a non-executive director since 1993. | He has been non-executive deputy chairman of Babcock since 1996 and a non-executive director since 1993. |
Mike Turner, chairman of Babcock, said in a company statement: "Lord Hesketh has been a long-standing and valued member of the Babcock Board, and over this period has made a significant contribution to the development of the Group. We thank him for his contribution and wish him well." | Mike Turner, chairman of Babcock, said in a company statement: "Lord Hesketh has been a long-standing and valued member of the Babcock Board, and over this period has made a significant contribution to the development of the Group. We thank him for his contribution and wish him well." |
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