GKN is to lose its chief executive and finance director by the end of the year with the head of the engineering group’s expanding aerospace business taking over the top job.
Nigel Stein, the chief executive, will step down after more than two decades at the company. He will be replaced by Kevin Cummings, head of the company’s aerospace business, which recently bought Fokker, its Netherlands-based rival, for €706 million and which GKN says has been outperforming the wider market.
“During his tenure as chief executive, Nigel has overseen the transformation of the group, greatly expanding the aerospace division and moving driveline into electric drive. He has been instrumental in GKN’s substantial growth,” Mike Turner, chairman, said.Discover More