Cobham appoints David Mellors as CFO
David's starting date is to be confirmed but not expected to be later than 1 January 2017.
David (right) is currently CFO of QinetiQ Group plc, the FTSE 250 science and engineering company that operates primarily in the defence, security and aerospace markets. During his time at QinetiQ - since 2008 - he has played a leading role in the successful transformation of the group, strengthening the balance sheet and re-focusing the portfolio, driving improved performance and positioning the group for growth.
Mark Elliott, Chairman of QinetiQ, said: “On behalf of the Board, I would like to thank David for his significant contribution to QinetiQ over the last eight years. We wish him every success in his new role.”
Steve Wadey, QinetiQ Chief Executive Officer added: “The capital discipline and strong financial position established under David’s leadership will underpin our future success and allow us to invest selectively in future growth. I would also like to thank him personally for the advice and support he has given me during my first year as CEO.”
Before taking his current role eight years ago, David was Deputy CFO of Logica plc. Prior to that he was Chief Financial Officer of Logica's international division, covering operations in North America, Australia, Middle East and Asia; before that he was the Group Financial Controller. His earlier experience includes various roles with CMG Plc, Rio Tinto plc and Price Waterhouse. David is a member of the Institute of Chartered Accountants in England and Wales and also holds a degree in Physics from Oxford University.
Simon Nicholls, whose resignation was announced in January, will leave the business at an appropriate point later in the year. In the interim, he remains fully committed to Cobham and to a smooth transition to his successor. The Board thank Simon for his significant contribution over the last three years and wish him well in his future endeavours.
Robert Murphy, CEO for Cobham said: "We welcome David joining us as Cobham's CFO. He has a successful track record of financial leadership in international defence, aerospace and broader commercial markets. His experience will enable him to play a key leadership role in delivering the Group's strategy."
Cobham Chairman, John Devaney added "David will be a welcome addition to the Board and we look forward to working with him. Cobham will benefit from his experience as we move into the next phase of growth."
David will leave QinetiQ on 31 December 2016 and the search for a new Chief Financial Officer is already underway.
