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(Sharecast News) - Aerospace and defence firm Chemring said on Tuesday that its Norwegian subsidiary had appointed Geir Hy, the former chief executive of Kongsberg Gruppen, as chairman of its board.
Chemring said Hy will take up the role on 1 July, succeeding Sarah Ellard, who has chaired Chemring Nobel since 2019 and plans to retire from Chemring Group in 2027.
The appointment comes as Chemring Nobel enters what it described as its most significant growth phase in decades, with the business expanding capacity at its Stre site and working with the Norwegian government on a feasibility study for a new production facility to meet rising demand for advanced military explosives across Norway, Europe and NATO.
Chemring said Hy was one of Norway's most experienced defenceindustry leaders, having joined Kongsberg Gruppen in 1993 and serving as CEO from 2016 until earlier this year.
The FTSE 250-listed firm said he brings strategic insight and deep experience navigating Norway's industrial and political landscape, which will support Chemring Nobel as it scales up and strengthen Chemring Group more broadly in the years ahead.
Group chief executive Michael Ord said: "We are delighted to welcome someone with Geir Hy's experience to lead Chemring Nobel's Board. His industrial leadership and strategic insight will be a significant asset as the business scales up to meet the critical needs of our allies.
"I am certain that he will make a strong contribution to the continued development and progress of Chemring Nobel and its critical role in NATO's defence industrial base, and I look forward to working together."
As of 0900 BST, Chemring shares were were up 0.78% at 490.80p.
Reporting by Iain Gilbert at Sharecast.com
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