BAE Systems is expected to announce Sir Roger Carr as its new chairman this week.
Sir Roger will replace previous chairman Dick Olver, who held the £725,000-a-year post for nine years.
Carr will step down from his role as president of the Confederation of British Industry at the organisation’s annual meeting in London today.
The 66-year-old is also currently chairman of energy group Centrica and previously chaired Cadbury during its takeover by US company Kraft in 2009.
The impending appointment comes after Invesco fund manager Neil Woodford called on Mr Olver to quit last year following the failure of a proposed merger between BAE and Airbus owners EADS.