Finance boss Smith Rolls into defence firm QinetiQComments Off on Finance boss Smith Rolls into defence firm QinetiQ
THE merry-go-round of defence industry directorships spun again today as weapons giant QinetiQ poached Rolls-Royce chief financial officer David Smith to fill its vacant finance role.
Smith, a former chief executive at Jaguar Land Rover, will join the Ministry of Defence supplier early next year. He replaces David Mellors, who is joining Cobham, one of QinetiQ’s big rivals, on January 1 next year. Cobham lost its chief financial officer, Simon Nicholls, when he resigned earlier this year.
“I’ve been struck by the ambition of its leadership team and am excited about helping QinetiQ to realise its potential,” Smith said.
Smith, who will earn £440,000 plus shares and bonuses, was in place at Rolls-Royce for two years, during which time it issued a string of profit warnings.
Rolls-Royce said last week that Smith was to be replaced by Stephen Daintith, current finance chief of Daily Mail and General Trust.
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