Ian King, a 52-year-old father and an ardent Pompey fan, is to take up the reins of the world's third largest defence firm from September 1 this year.

Having risen through the ranks since joining the defence industry in 1976, Mr King has now scaled to the very top of the company, one of the largest employers in Portsmouth.

He takes the helm just as the BAE's joint venture with VT looks set to be sealed, guaranteeing the future of the Royal Navy and transforming Britain's shipbuilding industry.

He said: 'I am honoured to be chosen to lead BAE, and I'm very proud of what we've achieved. It is very pleasing that across all our home markets we've got positive strategies we want to execute.

'The carriers deal is a very important one – I've personally been involved with negotiating it for the last 18 months, so it will be good to see it concluded.

'We're looking forward to transforming the shipbuilding industry. All our locations are important. Portsmouth has a strong position within the MoD venture, within Fleet Support, and is a core part of BVT.'

Despite being born in Blackbrook residential nursing home outside Fareham, the new chief executive speaks with a soft Scottish accent – the product of spending his formative years in Scotland, from age seven to 26, when he made his return to Portsmouth to work as an accountant for defence firm Marconi.

His talent was quickly recognised at Marconi, and he became the chief accountant – beginning a rise that saw him enter BAE Systems when the two firms merged in 1999.

He said one of his key objectives now was breaking into the potentially massive Indian market, with a number of executives dispatched to help open up business in the sub-continent.

In global terms, the firm's only larger rivals are US-based Boeing and Lockheed Martin.

Does Mr King have plans to alter that running order?

He laughs.

'Let's say we have plans to grow,' he said. 'The one thing you shouldn't do is just chase places, because you may end up in the wrong kind of business.'