Horton takes charge at Chubb

The security group Chubb yesterday confirmed that Sir Robert Horton, the former chairman and chief executive of BP and the former chairman of Railtrack, had started his new role of non-executive chairman.

Sir Robert replaces Roger Carr, who is retiring from the position. Mr Carr is a director of Centrica, Cadbury Schweppes, Six Continents and will become chairman of the pubs and leisure part of Six Continents after that business splits in two.

Chubb announced it had appointed Sir Robert, 63, as its deputy chairman at the end of September. He was expected to take up the position of chairman before the end of the year.

Separately, the company yesterday announced the appointment of John Roques, who is chairman of the Portman Building Society, to the board. Mr Roques, who is also a non-executive director of BBA Group and of Premier Farnell, will take up his board seat at Chubb on 1 January.

In September, Chubb posted a 14 per cent jump in profits in the first half of the year and forecast growth would pick up in the second half despite ongoing tough conditions. Profits on continuing operations before tax, goodwill and exceptional items rose 14 per cent to £48.9m in the six months to 30 June on sales, up 8 per cent, of £742.7m.

Chubb, which supplies electronic safety equipment such as intrusion detection as well as fire prevention systems, produced organic growth of 4 per cent in the first half.