Board Announcement

RNS Number : 5664C

QinetiQ Group plc

16 November 2009

 



16 November 2009

QINETIQ GROUP PLC

BOARD ANNOUNCEMENT

Further to the announcement made on 29 October 2009, QinetiQ Group plc ('QinetiQ' or 'the Company') confirms the appointment of Leo Quinn as Chief Executive Officer of the Company, which took place on 16 November 2009.

Mr Quinn will be paid an annual salary of £580,000 and will participate in QinetiQ's established bonus and long-term incentive arrangements. Mr Quinn purchased 602,757 QinetiQ ordinary shares on 30 October 2009 at a price of 164.67p per share. This transaction was personally funded by Mr Quinn and the transaction took place in the United Kingdom. No connected persons of Mr Quinn participated in the transaction. Mr Quinn will receive a Matching Award to mirror the Company's Performance Share Plan in respect of this share purchase, subject to normal vesting and performance conditions. Mr Quinn will also receive additional ordinary shares with a value equal to 100% of his base salary to mirror the Company's Performance Share Plan, subject to normal vesting and performance conditions. 

For more details on this announcement refer to QinetiQ RNS Number 5562B (29 October 2009.)

-ENDS-

For further information please contact:

Chris Barrie / Andrew Hey, Citigate Dewe Rogerson, [phone]

Cindy Davies, QinetiQ Investor Relations Manager, [phone]

 

END

 

 

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