QinetiQ restructures US business, names new lead exec
By
Ross Wilkers
QinetiQ doubled the size of its U.S. footprint last year through an acquisition and has named a new executive to lead that business in conjunction with a reorganization.
QinetiQ’s acquisition of a sensor development company last year more than doubled the British defense firm’s footprint in the U.S., but also meant the buyer now has to restructure its business here.
In a trading update for investors Wednesday, QinetiQ said it has signed a new proxy agreement with the Defense Department that restructures the company’s U.S. businesses into a new single entity known as QinetiQ Inc. that replaces the prior QinetiQ North America organization.
QinetiQ Inc. includes both the legacy QNA business and all operations undertaken through the acquisition of Manufacturing Techniques Inc. that closed in December 2019.
Former MTEQ CEO Mary Williams has been named CEO of QinetiQ Inc., while longtime industry veteran and current EverWatch CEO John Hillen was appointed chairman of the board of directors. QinetiQ Inc. must have its own leadership team and board given the foreign ownership structure.
The board also includes Steve Wadey and David Smith, respectively chief executive and financial officer for the QinetiQ PLC parent, along with Pamela Drew and Tom Mills.
QinetiQ Inc. now employs 700 people and has said it will represent nearly one-fourth of total corporate revenue when including MTEQ.