Arlington Securities chairman Patrick Macdougall will be succeeded by Richard Lapthorne, the chairman of Cable & Wireless.
Lapthorne, 61, is a non-executive chairman of New Look, Morse and Avecia and non-executive director of Oasis International leasing in Abu Dhabi, and a vice chairman of JP Morgan Investment Bank.
He held the post of finance director and vice chairman of British Aerospace until he retired from this post in December 1999.
While at British Aerospace, Lapthorne was the director responsible for property and was chairman of Arlington during the time it was a BAe company.
Patrick Deigman, chief executive of Arlington, said: “Richard brings with him extensive in-depth industry experience and an international perspective.
“As the company enters its next phase of development, which includes decisions on issues such as growth and flotation, Richard’s input and experience will be enormously valuable to us.
“We look forward to a period of strong growth under his chairmanship,” said Deigman.
Lapthorne said: “Arlington is a business I admire and have watched it transform itself over the last decade. Its total focus on the customer experience has paid off and it is now in good shape for the future.”
References: EGi News 27/04/05
