QinetiQ Group plc announced that Carol Borg, Group Chief Financial Officer (CFO), and the Board have together agreed that Carol will step down from her role as Group CFO with effect from April 16, 2024. She will continue to be available to support the interim arrangements until the end of July. The company appointed Martin Cooper as Group CFO to succeed Carol and he is expected to join the company's Board no later than October.

Martin is a qualified chartered accountant and has more than 25 years' experience leading multi-disciplinary teams in senior finance roles. He joins QinetiQ from BAE Systems where he held a number of positions including UK & Rest of World Financial Controller, Divisional Finance Director and most recently Investor Relations Director. To enable a smooth transition in the interim period prior to Martin joining the company, Heather Cashin, currently the Group Financial Controller, has been appointed Interim Group CFO.

David Smith, former Group CFO of the company, has agreed to provide advice and support services to Heather and the Board during the interim period.