QinetiQ Group plc Directorate Change (1891D)
January 27 2015 - 2:01AM
UK Regulatory
TIDMQQ.
RNS Number : 1891D
QinetiQ Group plc
27 January 2015
27 January 2015
QinetiQ Group plc
Steve Wadey appointed as new CEO of QinetiQ
The Board of QinetiQ Group plc ('QinetiQ') is pleased to
announce the appointment of Steve Wadey as its new Chief Executive
Officer (CEO). Mr Wadey is currently the Managing Director of MBDA
UK, a missile systems business with 3,000 employees and an annual
turnover of circa GBP800m. He is also Technical Director for the
MBDA Group which has over 10,000 employees in France, Italy,
Germany, Spain and the United States as well as the United
Kingdom.
In addition, Steve leads the Defence Growth Partnership (DGP) -
a partnership between the UK defence sector and Government - as its
co-chair alongside the Minister for Business and Enterprise,
Matthew Hancock MP. He is a non-executive director of the UK
Ministry of Defence (MOD) Research & Development Board.
Mark Elliott, Chairman of QinetiQ said:
"We are delighted that Steve has agreed to join QinetiQ. We were
looking for an outstanding leader with a track record of driving
growth, a deep understanding of the defence industry and the
technological know-how to lead QinetiQ in the next stage of its
Organic-Plus strategy. Steve fits all these criteria and is
respected across the MOD and the European defence sector."
Steve Wadey added:
"I know QinetiQ well having worked in partnership with the
company on both joint contracts and through the DGP. The expertise
of its people is held in high regard throughout the industry and I
look forward to working with them all as we develop and grow
QinetiQ to meet changing customer needs in both defence and
commercial markets."
Aged 45, Steve has a first class degree in Electrical and
Electronic Engineering from Cardiff University and commenced his
career with British Aerospace.
Steve will be joining QinetiQ in the second quarter of the 2015
calendar year. Following his appointment, interim CEO David Mellors
will continue in his role as Group Chief Financial Officer.
On appointment, Steve Wadey will receive a basic annual salary
of GBP560,000. In line with QinetiQ's approved remuneration policy,
he will be eligible to participate in the Bonus Banking Plan and
long-term incentive arrangements, and will receive a payment in
lieu of pension contributions. He will join the QinetiQ Board of
Directors and become a member of the Risk & CSR, Nominations
and Security Committees. There are no other matters requiring
disclosure under LR 9.6.13.
QinetiQ will issue an Interim Management Statement on 11
February 2015 covering trading in the period from 30 September
2014.
About QinetiQ:
A FTSE250 company, QinetiQ uses its world class knowledge,
research and innovation to provide high-end technical expertise and
advice, to customers in the global aerospace, defence and security
markets. QinetiQ's unique position enables it to be a trusted
partner to government organisations, predominantly in the UK and
the US, including defence departments as well as other
international customers in targeted sectors.
For more information see www.QinetiQ.com
Follow us on twitter @QinetiQ
Visit our blog at http://www.qinetiq-blogs.com/
Download the QinetiQ investor relations app for iPad from the
App Store.
About MBDA:
MBDA is a world leader in the development and manufacture of
missiles and missile systems, with 10,000 employees working across
France, the United Kingdom, Italy, Germany, Spain and the United
States. It has three major shareholders - Airbus (37.5%), BAE
Systems (37.5%) and Finmeccanica (25%), and is considered the first
truly integrated European defence company.
MBDA was created in 2001, after the merger of the main missile
producers in France, Italy and the UK. The company was completed in
March 2006 with the acquisition of the German subsidiary EADS/LFK,
combining the majority of European missile development and
technology into one business.
For further information, please contact:
Investor Relations: David Bishop, QinetiQ +44 (0)7920 108675
Media Relations: QinetiQ Press Office +44 (0)1252 393500
Liz Morley, Maitland +44 (0)20 7379 5151
This information is provided by RNS
The company news service from the London Stock Exchange
END
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