Shares in Defence Holdings PLC (LSE:ALRT) rose 10% to 1.85p after the company said it had agreed the appointment of a new chief executive, earlier than previously expected.
The London-listed defence technology group said the board had concluded a “comprehensive and highly targeted” search process and reached agreement on the appointment, having indicated in a recent operational update that a decision was likely in January.
The new chief executive is expected to take up the role in early Q2, once contractual arrangements and notice period obligations at their current employer have been completed.
Defence Holdings has not yet named the appointee but said further details would be announced in due course, subject to regulatory and background checks.
The board described the appointment as a key step as the company shifts from developing capabilities to executing and commercialising its sovereign artificial intelligence and mission-critical defence software programmes.
According to the company, the incoming chief executive brings senior leadership experience across defence, national security and government-aligned technology, alongside a track record in running organisations at scale.
Andy McCartney, chief technology officer, said the successful candidate had been selected from a strong field and would lead the business through its next phase of delivery.
“This individual brings deep experience leading complex, defence-aligned organisations through delivery and scale,” he said.