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4 July 2003 - BNFL has announced the appointment of Michael Parker, former head of Dow Chemicals, as Group Chief Executive following the announcement that Norman Askew was to resign.
Parker, 57, joins BNFL next month when the group is expected to announce a loss of £1bn ($1.67bn) following further provisions to cover the cost of decommissioning liabilities. He spent two years with Dow during, which time the company performed poorly.
Hugh Collum, BNFL's Chairman said: "I am very pleased to announce Michael's appointment. He has had a very successful career with The Dow Chemical Company and has extensive business experience managing a major corporation operating in 170 countries and employing 50 000 people.
"I am particularly delighted that we have been able to attract someone of Michael's calibre to BNFL at this time of great opportunity and challenge. I very much look forward to Michael taking up his post on 1st August 2003."
Michael Parker said: "This is a very exciting challenge to lead such an important UK business which is at the forefront of nuclear technology. My first step will be to initiate a strategy review, in conjunction with the Government, so that BNFL can continue to play its part in the nuclear industry and in particular, the competitive nuclear clean-up market."
Parker will relocate to the UK to be based at BNFL's Cheshire headquarters in Daresbury and will also have an office in London.
Parker will have to deal with the effect of falling electricity prices which hit the group's ageing Mango nuclear power stations as well as a law suite from the Irish government alleging discharges into the Irish Sea from the Sellafield nuclear reprocessing plant.
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