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QinetiQ names Logica man as new CFO

Wednesday, 21 May 2008

Defence and security technology firm QinetiQ Group plc has appointed David Mellors as chief financial officer.

It is anticipated that Mellors will take up his new role with effect from the end of August 2008 when he will also join the QinetiQ board as an executive director.

Mellors, 39, joins from Logica PLC, the IT and business services group where he is the deputy CFO.

Previously he was the CFO of Logica's International division covering operations in North America, Australia, Middle East and Asia and prior to that the group financial controller.

His earlier experience included three years with Rio Tinto PLC and five years with Price Waterhouse. Mellors is a member of the Institute of Chartered Accountants and was educated at Oxford University.

Sir John Chisholm, chairman of QinetiQ (LSE:QQ.), said, "David has extensive experience of working in a PLC environment, knowledge of the technology and services industry and a strong track record of working in overseas markets."

Mellors joins QinetiQ following the announcement in January 2008 that Doug Webb would be leaving the group to take up an appointment as chief financial officer at The London Stock Exchange Group plc.

QinetiQ is a leading international defence and security technology business that was formed in July 2001 from the UK Government's Defence Evaluation & Research Agency (DERA).

The group has approximately 13,500 employees, who deliver technology-based services and exploit QinetiQ's strengths in technology research by selling systems solutions, products and licences to government and commercial customers in a spectrum of defence, security and related commercial markets.

In February 2006, QinetiQ Group plc was listed on the London Stock Exchange’s main market and joined the FTSE250 in June 2006.

In the year to 31 March 2007, QinetiQ delivered a 17.4 per cent rise in underlying operating profit before tax to £106.0m on turnover which rose by 9.3 per cent to £1,149.5m.

Financial results for the year ending 31 March 08 are scheduled to be announced on Wednesday 28 May 2008.

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