This is the second senior role change at Cobham in as many months after the company announced that Mr Nicholls would be replaced by QinetiQ finance boss David Mellors by the start of next year.
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Cobham said Murphy was leaving “to pursue other opportunities”.
Laird said it had appointed CFO Tony Quinlan to take over from Lockwood as chief executive on September 5. At the same time it launched a £500m rights issue, completed in June, to strengthen finances partly weakened by debt taken on to buy USA communications equipment maker Aeroflex in 2014. Cobham has struggled as operational issues in its wireless business have delayed shipments and demand dropped in Asia and among its customers in the oil market. Before that he worked for BT, GPT (Marconi), BAE Systems and Thales.
“David has a background in defense and communications technology which are at the heart of Cobham”, Chairman John Devaney said in the statement. The board wished him well in his future endeavours.
Cobham added that Mr Lockwood will be paid an annual salary of £690,000 and will participate in the company’s established bonus and long-term incentive schemes.
Mr. Lockwood will join the company as CEO and director by January 1, 2017, Cobham added.
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Cobham shares, down 40% this year, rose 5% to 168p in early trading on Wednesday.
