As the Paris Air Show opens, UK-based BAE Systems, amidst ongoing allegations of corruption regarding its dealings with Saudi Arabia, has taken steps to open itself to investigation by an independent committee while in the U.S. Congressional committees recently lifted blocks on some arms transfer requests by BAE North America. But the defense company is still facing investigations on both sides of the Atlantic, which may derail a $40 billion deal Saudi Arabia is about to sign with the UK for 72 Eurofighter Typhoon combat aircraft. BAE Systems is one of the partners in the Eurofighter consortium.
Last week, BAE announced the creation of an “external, expert committee to review and evaluate the company’s…ethics and business processes.” BAE said that this independent enquiry would comprise four people, and named Lord Woolf, a former Lord Chief Justice, to chair it. BAE chairman Dick Olver promised that the committee’s conclusions and recommendations, due in early 2008, would be published in full. “The BAE Systems Board has committed to abide by (its) findings,” he confirmed. However, the Woolf Enquiry will deal only with BAE’s current business.
