REG-QinetiQ Group plc Board appointment

com:20091029:Rnsc5562B
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RNS Number : 5562B  
  
QinetiQ Group plc  
  
29 October 2009  
  
29 October 2009  
  
QinetiQ Group plc  
  
Board announcement  
  
The Board of QinetiQ Group plc ("Group") announces that Graham Love, Chief 
Executive Officer, is, after eight years with the Group, standing down from the 
company with effect from 30 November 2009. Graham has been instrumental in 
transforming the company from a defence research organisation into an 
international provider of technology-based services and solutions, leading its 
expansion into the North American market and generating earnings per share 
growth averaging 16% per annum since privatisation. Graham will remain a 
consultant to the Group on the Defence Training Rationalisation (DTR) project.  
  
The Board is pleased to announce that with effect from 16 November 2009 Leo 
Quinn will join the Board as Chief Executive Officer.  Leo was previously Group 
Chief Executive of De La Rue plc where he led the Company's transformation into 
a focused, market-leading security printer, serving governments and central 
banks. He and his team drove innovation and productivity to create substantial 
value for shareholders.  Prior to that, Leo was responsible for a number of 
business turnarounds in both Europe and the United States for companies such as 
Honeywell International and Invensys plc.   
  
.  
  
Commenting on today's news, QinetiQ's Chairman, Sir John Chisholm said "I would 
like to thank Graham not only for his leadership over the last four successful 
years as Chief Executive Officer, but also for the part he has played in 
QinetiQ's creation from the time he joined as Chief Financial Officer of the 
Defence Research Agency in 1992. Graham has played a key role in QinetiQ's 
success to date and particularly its expansion into North America, which is now 
a significant part of the Group. On behalf of the Board I would like to wish him 
every success for the future."   
  
"Back in June 2009 we announced that Mark Elliott will succeed me as Chairman at 
our next AGM as QinetiQ moves into the next stage of its evolution. Both Mark 
and I welcome Leo to the company. He has an excellent leadership record with 
customers, employees and investors. The Board looks forward to working with Leo 
to further accelerate the success and growth of the Group."  
  
Commenting on his departure Graham Love said; "I am delighted to have played a 
role in the evolution of a great company, and privileged to have worked with an 
outstanding group of colleagues. QinetiQ has tremendous opportunities ahead of 
it and I wish the team every success as its journey continues."   
  
There are no other matters requiring disclosure under LR 9.6.13.  
  
-ENDS -  
  
 Notes to Editors  
  
 
 * The Group will announce its interim results for the six months to 30 
September on 25 November 2009. 
 * Leo Quinn is also a non executive director of Tomkins PLC. 
 * Details of Leo Quinn's remuneration arrangements will be disclosed in an 
announcement to be made upon his appointment on 16 November 2009 
 * Leo Quinn's career history:  
  
o  2004 - Dec 2008              Group Chief Executive, De La Rue  
  
o 2001 - 2004                      COO, Production Management Division,  
  
Invensys plc  
  
o 2000 - 2001                      President, EMEA Tridium Inc  
  
o 1984 - 2000                      Honeywell International Inc  
  
o 1982 - 1984                      Texas Instruments  
  
For further information:  
  
David Bishop, QinetiQ Media Relations Manager       (0)1252 394573/(0)792 
0108675  
  
Chris Barrie Citigate Dewe Rogerson  (0) 20 7282 2943  
  
Cindy Davies, QinetiQ Investor Relations Manager    (0) 7733 014297  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
  END  
  
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