Leo Quinn's appointment as QinetiQ's new chief executive received a much needed favourable response from the stock market as the defence group attempts to restore investor confidence after a sustained fall in its share price.
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The former De La Rue chief executive will have plenty in his in-tray in trying to manage a company split between a profitable US market and a declining UK defence sector. He replaces Graham Love, a QinetiQ insider and former-civil servant who profited greatly from the firm's flotation, but who seemed to struggle with the group's transformation from a government-owned research business into a viable commercial enterprise.
