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MARKETS LIVE BLOG:

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BAE Systems names Tom Arseneault as new boss of U.S. division

Reuters
Trade visitors walk past an advertisement for BAE Systems at Farnborough International Airshow in Farnborough, Britain

LONDON (Reuters) - British defence company BAE Systems <BAES.L> said Tom Arseneault would replace Jerry DeMuro as chief executive of its U.S. business, BAE Systems Inc, next year.

Arseneault, currently chief operating officer of BAE Systems Inc, will also join the board of the British mother company when DeMuro retires.

DeMuro has been at the helm of the U.S. business, which has sales of $10.8 billion and 33,000 employees, since 2014 and will stay at BAE until the end of 2020 to complete a number of projects including a governance review of global shipbuilding.

BAE Systems Inc makes electronics systems for use on both combat and commercial aircraft as well as producing combat vehicles and naval guns and other military equipment in the U.S.

(Reporting by Sarah Young; editing by Kate Holton)