Investors had branded the aerospace equipment-maker 'a mess'

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The Independent Online

New boss of Chemring reshuffles executive team

After only two months at the helm of defence firm Chemring, new chief executive Mark Papworth yesterday gave some of his own staff the ejector seat, replacing his finance boss and appointing a new head of human resources.

It comes weeks after investors branded the aerospace equipment-maker "a mess" as private equity firm Carlyle Group abandoned takeover plans after the munitions and pyrotechnics group issued two profit warnings, dumped boss David Price and admitted contract delays.

Mr Papworth, formerly with energy firm Wood Group, took over from Price and yesterday replaced interim finance boss Nigel Young with Steve Bowers, former finance director of Umeco.