MILITARY and aerospace technology company Cobham have announced chief financial officer Warren Tucker is stepping down.

The news comes just days after the American company, which has a site a Durham Tees Valley Airport, appointed senior BAE Systems' executive Robert Murphy as its new chief executive.

Mr Tucker said he will leave in April next year because he felt ten years was long enough to be on the board of any one company.

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It is understood that Mr Tucker did not apply for the chief executive role, and initially told the board of his plans to leave last year.