Bristol Distinguished Address Series
Start Date: 09 Oct 2014
Start Time: 6:00 PM
End Time: 7:30 PM
Duration: 1 hour 30 minutes
Venue: Bristol City Hall, College Green , Bristol, BS1 5TR › View map
About the lecture
Leo Quinn, Chief Executive Officer, QinetiQ Group will deliver a lecture as part of the Bristol Distinguished Address Series.
According to one sector analyst, “QinetiQ has been transformed over the past five years from a scientific playground to a commercially minded PLC”. Hear from the Chief Executive Officer of QinetiQ how he is driving that change, lessons that can be learned for other organisations and above all why he believes that cultural transformation is the only non-negotiable in delivering greater value for customers, employees and investors alike.
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Leo Quinn has led the transformation of a number of global, technology-based businesses.
He was appointed Group Chief Executive of QinetiQ Group plc (FTSE250, turnover $2.5bn, Aerospace/ Defence) in November 2009. At that point the former government spin-out was in crisis, with two profit warnings and a potential breach of banking covenants causing the market to expect an emergency call for equity.
Leo rapidly established a two-phase strategy, starting with 24 months of 'self-help' to avoid the pressing necessity for a rights issue and to provide the foundation for future expansion. This programme has transformed QinetiQ's performance into that of a respected and resilient niche leader. The portfolio has been honed into investable businesses under a new cadre of leaders. Over £0.5bn of cash has been generated, taking the heavily indebted balance sheet for the first time to a net cash position. With contract execution and therefore customer satisfaction at an historic high, QinetiQ is now implementing its second strategic phase, Organic-Plus, by investing to expand its core expertise into new markets, especially internationally and beyond defence, in order to generate sustainable earnings growth.
From 2004 to 2008 Leo was Chief Executive of De La Rue plc (FTSE250, turnover $1.1bn, Support Services), where his strategy of internally-funded investment in customer relationships and material science innovation, funded by productivity improvements, refocused the company into the world's leading commercial security printer and revitalised growth. Under his leadership, De La Rue created £1bn in value, most of which was returned to shareholders, and rose from near-bottom of the FTSE250, to #105.
Prior to that Leo spent almost 4 years as COO of Invensys plc's $3bn Production Management business, headquartered in the US and supplying complex control systems for nuclear, oil and gas installations. Leo reversed the decline of the division, contributing substantially to the parent company's ability to refinance and recover. His experience also includes a successful internet-based software start-up, and16 years with Honeywell Inc. in senior management roles across the world including Global President of H&BC Enterprise Solutions. He has also held non-Executive Directorships, including with Tomkins plc.
About the Bristol Distinguished Address Series
The Bristol Distinguished Address Series provides a unique opportunity to hear about the challenges, issues and decisions being made at the highest level of strategic leadership. The series is delivered by the Bristol Business School in partnership with ACCA, Bristol City Council, Bristol Post, Business West, CBI, CMI, FSB, IoD, ICAEW, Bristol Junior Chamber and the West of England LEP.
Leo Quinn, Appointed Chief Executive Officer of QinetiQ Group in November 2009.
Member of the QinetiQ Compliance Committee, QinetiQ Nominations Committee and QinetiQ Security Committee.
Leo Quinn was Chief Executive Officer of De La Rue plc between 2005 and 2009 before joining QinetiQ Group plc.
Prior to joining QinetiQ and De La Rue, Leo Quinn spent almost 4 years as COO of Invensys plc’s Production Management business, headquartered in the US and supplying complex control systems for nuclear, oil and gas installations.
Leo Quinn also spent 16 years with Honeywell Inc in senior management roles across the UK, Europe, the Middle East and Africa including Global President of H&BC Enterprise Solutions. He is a Non-executive Director of Betfair Group plc and was formerly a Non-executive Director of Tomkins plc. Educated at both Imperial College London and Portsmouth University, Leo Quinn holds an MSc in Management Science and a BSc in Civil Engineering.
Leo Quinn is married with two sons and his hobbies include skiing, shooting, thoroughbred horses and the performing arts.
Contact: Corporate Relations and Events Team
Telephone: +44 (0)117 32 83934