QinetiQ Group plc, the international defence and security technology company, today announces the resignation of Glenn Youngkin as a non-executive director in connection with Carlyle’s announcement of its intention to sell down its shareholding in QinetiQ.
Mr Youngkin’s resignation will take place with immediate effect.
Mr Youngkin, managing director, The Carlyle Group said: “I have greatly enjoyed working with the outstanding team at QinetiQ and am very proud of the company and its excellent performance since 2003. The company is now very well positioned in the defence and security technology market, both in the UK and the US, and I am certain it will continue to excel for the benefit of its shareholders. It has been a privilege to have been a part of this success story.”
Graham Love, chief executive of QinetiQ said: “We thank Glenn Youngkin and the Carlyle team for their support, guidance and industry expertise over the past years. Their input has been instrumental in the evolution of our business, and we particularly value their contribution to growing our business in the US through acquisition, a strategy which we continue today.