Leo Quinn to step down as Group Chief Executive of QinetiQ
Leo Quinn (right) will leave QinetiQ effective 31 December 2014 and QinetiQ has already commenced the search for a new CEO to lead the company as it focuses on its growth opportunities. In addition to his current responsibilities, the Group’s Chief Financial Officer David Mellors, who has been with QinetiQ since 2008 and played a key role in its transformation, will take over as acting CEO on 1 January 2015 until a permanent appointment is made.
Mark Elliott, QinetiQ Chairman said: “Leo Quinn arrived at QinetiQ at a difficult point in the company’s history with a downturn in defence spending on the horizon. His vision and leadership have transformed QinetiQ into the strong, competitive company it is today, better positioned to deliver growth through its Organic-Plus strategy. On behalf of the Board, I wish Leo every success in his new role.”
Commenting on his departure Mr Quinn said the following in a letter to all employees: “The company I am leaving today looks very different to the one I joined in 2009. We have a confident, capable leadership team and an empowered, engaged workforce, taking immense pride in serving our customers and through them, the men and women in frontline forces across the world. By refocusing on these truths in the last five years we have enhanced QinetiQ’s reputation, made it a more rewarding place to work and delivered substantial shareholder value. As a result we have created something significant, not just in the QinetiQ of today, but in the enormous opportunities it now has, for tomorrow.”
