British Aerospace Shareholders Approve Merger with Marconi Electronic Systems
Shareholders in British Aerospace (BAe) today approved the proposed merger between the company and Marconi Electronic Systems (MES).
All resolutions were passed overwhelmingly at an Extraordinary General Meeting held at the QEII Conference Centre in London. More than 99.9% of votes cast were in favour of the proposed merger.
At separate meetings held on November 3 1999, Marconi plc (formerly known as GEC) also received approval for the proposed merger.
Completion of the proposed merger depends on the successful resolution of the outstanding regulatory issues.
BAe and MES announced November 4 a strong programmes-led organisation designed to provide real focus on the customer and to deliver major synergy savings for the new merged company.
The organisation reflects the predicted defence business growth in systems, systems integration, service and service-related areas. And it will create a single, seamless company philosophy through ownership of common processes by function leaders.
Sir Richard Evans will head the new company as chairman with John Weston as chief executive. Two chief operating officers - Mike Turner and Peter Gershon - will be responsible for the business operations.
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British Aerospace Shareholders Approve Merger with Marconi Electronic Systems
