Babcock International Group PLC (Babcock or the Group), a leading defence and engineering company, today announced that David Lockwood, Group Chief Executive, will retire by the end of 2026. Following an extensive internal and external search, the Board has appointed Harry Holt, current CEO of Babcock’s Nuclear sector, as his successor.
David Lockwood’s Leadership and Achievements
David Lockwood joined Babcock as Group Chief Executive in September 2020. During his tenure, he led a successful strategic and financial transformation, strengthening Babcock as a high-performance defence engineering business. His leadership delivered:
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Growth and margin expansion
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Cash generation and portfolio alignment
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Enhanced operating performance and delivery track-record for customers
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A transformed corporate culture focused on expertise, encouragement, and excellence
David leaves Babcock with excellent momentum and a strong pipeline of future opportunities.
Harry Holt: CEO Successor
Harry Holt, CEO of Babcock’s Nuclear sector, will succeed David Lockwood as Group Chief Executive. His appointment ensures continuity of Babcock’s strategy and future growth. Key highlights of Harry’s experience include:
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Leading Babcock’s largest global sector, the Nuclear division
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Driving a 54% revenue growth from FY23 to FY25
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Achieving 9% sector margins in both defence and civil nuclear operations
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Senior roles at Rolls-Royce plc, including President of Nuclear Division and Chief People Officer
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A distinguished career as a British Army officer
Harry will first assume the role of Deputy CEO and join the Board in June 2026, before transitioning to Group Chief Executive.
Board Statements
Dame Ruth Cairnie DBE, Babcock Chair, said:
“David has been an exceptional Chief Executive, delivering strategic and financial transformation. He leaves Babcock in a very strong position, with unique capabilities more relevant than ever. We are confident that Harry Holt is the ideal candidate to lead Babcock through its next chapter.”
David Lockwood, Group Chief Executive, said:
“It has been my privilege to lead Babcock through challenging times, including the COVID pandemic and global geopolitical unrest. I am proud to leave Babcock well-positioned for future growth and am delighted that Harry Holt will succeed me.”
Harry Holt, Deputy CEO, said: “I am honoured to lead Babcock through its next chapter. David’s leadership has set the company on an excellent footing, and I look forward to continuing our growth while delivering value for customers, colleagues, and shareholders.”
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