With a notable background, Mr Cockburn previously held the position of chief financial officer at Serco Group, an outsourcing firm, and Glasgow-based temporary power solutions supplier Aggreko.

Currently Mr Cockburn presides as the chairman of James Fisher & Sons, an established engineering conglomerate, and maintains a role as the senior independent director at Ashtead Group, specialists in equipment rentals.

With his forthcoming responsibilities at BAE Systems starting next month, he intends to relinquish his non-executive role at the STS Global Income & Growth Trust in the upcoming year, The Times reports.