Solid State founders bid farewell

REDDITCH manufacturer Solid State has announced that two of the stalwarts of the business are to step down from the board.

The company, which supplies specialist industrial/ruggedised computers, electronic components, secure communications systems and battery power solutions to the electronics market, said Gordon Comben, aged 75 and William Marsh, aged 77 would be retiring from the business at the end of the year.

Mr Comben founded the group in 1971 with Mr Marsh joining the company in 1974.  Since its establishment the group has made seven acquisitions and now employs over 140 people across four sites.  
 
Commenting on the board changes, Tony Frere, chairman, said: “We owe a great debt of gratitude to Gordon and Bill for their contribution over the years.  They will remain shareholders and will follow the progress of the group with interest.  
 
“On behalf of the board and all our shareholders I would like to thank them for their belief and endless energy in making Solid State what it is today and wish them all the best for the future.”
 

Quinn departs QinetiQ to return to Balfour Beatty

DEFENCE supplier QinetiQ, which has an office in Malvern, has announced the departure of its chief executive, Leo Quinn.

Quinn will leave QinetiQ effective at the end of the year to take up the role of chief executive at struggling construction giant Balfour Beatty.

QinetiQ said it had already started the search for a new CEO, one who could lead the company as it focuses on its growth opportunities.  

In addition to his current responsibilities, the group’s Chief Financial Officer David Mellors, who has been with QinetiQ since 2008 and played a key role in its transformation, will take over as acting CEO on January 1, 2015 until a permanent appointment is made.
 
Mark Elliott, QinetiQ chairman said: “Leo Quinn arrived at QinetiQ at a difficult point in the company’s history with a downturn in defence spending on the horizon. His vision and leadership have transformed QinetiQ into the strong, competitive company it is today, better positioned to deliver growth through its Organic-Plus strategy.  On behalf of the board, I wish Leo every success in his new role.”
 
Quinn said in a letter to all employees: “The company I am leaving today looks very different to the one I joined in 2009. We have a confident, capable leadership team and an empowered, engaged workforce, taking immense pride in serving our customers and through them, the men and women in frontline forces across the world. By refocusing on these truths in the last five years we have enhanced QinetiQ’s reputation, made it a more rewarding place to work and delivered substantial shareholder value.  As a result we have created something significant, not just in the QinetiQ of today, but in the enormous opportunities it now has, for tomorrow.”

From 2004-2008 Quinn created substantial value as CEO of De La Rue, the largest non-government printer of banknotes, and prior to that led a number of international business transformations as Global President of Honeywell Building Controls and COO of Production Management, the largest division of Invensys.

Educated at Imperial College, London and Portsmouth University, Quinn holds an MSc in Management Science and a BSc in Civil Engineering.  He began his career at Balfour Beatty in 1979 as a civil engineer in the UK construction services business.

Quinn said: “Balfour Beatty is a world-leading brand with world-leading talent.  Having started my career there, I am very proud to be rejoining a company so ingrained in British engineering, and am resolute in my ambition to realise its enormous potential for customers, employees and investors.  The building blocks are there to give Balfour Beatty’s people the success they deserve and I am keen to work with them to create something significant and lasting.”

Hummingbird begins the hunt for a new chairman

BIRMINGHAM-registered gold exploration firm, Hummingbird Resources, has announced that its chairman, Ian Cockerill, is to stand down.

In its full year results statement, Cockerill said: “Having chaired Hummingbird for the past five years we have decided that it is the right time for me to stand down.  I am very proud of the progress that has been made over that time from grassroots exploration, through a listing on the stock exchange and on through remarkable discovery success to near production.  Whilst the market has remained volatile, I am pleased to say Hummingbird has continued to find a way to deliver and has continued to add value and grow.

“It has been a pleasure to serve as chairman and I am leaving the company in a strong state, with an excellent management team, assets and prospects. I will remain involved in Hummingbird in an advisory capacity and I look forward to watching the team develop though this cycle of the market.”

Dan Betts, Hummingbird CEO, said: “It has been a privilege for me to build and run a junior gold company under the wise council, guidance, support and friendship of Ian.  Ian will remain involved in Hummingbird as an advisor but, after five years in the role as chairman, we have decided that the time is right for him to step aside to devote more time to his other commitments. As we embark upon a new strategic opportunity, our aim in the current market is to capitalise on the huge opportunities available to us in building a gold company.”