LONDON (Alliance News) - Cobham PLC on Wednesday said it has poached its new chief financial officer from fellow FTSE 250 defence technology company QinetiQ Group PLC.
Cobham said David Mellors will join as chief financial officer, the same position he currently holds at QinetiQ, no later than January 1, 2017. Prior to taking up his position at QinetiQ, Mellors was deputy CFO at Logica PLC, the UK-based IT and management consultancy.
Simon Nicholls, who resigned from his role at Cobham in January, will leave the business "at an appropriate point" later in 2016, Cobham said. Nicholls was supposed to join FTSE 100 building-materials company Wolseley PLC as CFO, but that decision was reversed in May after a profit warning and rights issue by Cobham in April.
QinetiQ confirmed the move on Wednesday morning and said the search for a new CFO is underway.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Qinetiq (QQ.)