Babcock International: Burying the Bad News

In our opinion, Babcock has systematically misled investors by burying bad news about its performance. We believe that Babcock’s senior leadership team – specifically the chairman and chief executive – are not up to the job and their failings will damage the company’s future prospects.

Mike Turner has been the chairman for 10 years and can no longer be considered independent under the UK’s Corporate Governance Code. Turner’s legacy at BAE was bad deals and a bad relationship with the MoD. He has done exactly the same thing at Babcock. Change is needed.

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