SAIC names leaders for planned new companies
- November 5, 2012
SAIC announced key leadership appointments Monday for the businesses that will be created next year following its planned separation into two independent, publicly traded companies.
John Jumper, SAIC’s current chairman and CEO, will be CEO and chairman of the largest business focused on delivering science and technology solutions in three high-growth markets: national security, engineering and health. Pro-forma revenue for the fiscal year ending Jan. 31, 2013, for this business unit is estimated at $7 billion.
Also serving on this leadership team will be Stu Shea, SAIC’s current chief operating officer, who will continue to serve as the company’s COO and assume the position of president.
Mark Sopp, SAIC’s chief financial officer since 2005, will retain his position as will Vince Maffeo, SAIC’s current general counsel. Rounding out the team will be Joe Craver, current group president, who will continue to lead the health, engineering and commerce portions of the business as sector president.
With Tony Moraco’s planned move to lead the new services company, SAIC will initiate an executive search for the president of the national security sector.
Moraco will serve as CEO for the government technical services and enterprise IT business. He will lead initiatives to tap into new business made accessible by the removal of existing organizational conflicts of interest after separation. Pro forma revenue for the fiscal year ending Jan. 31, 2013, for the future technical services business is estimated at $4 billion.
Edward “Sandy” Sanderson will assume the position of nonexecutive chairman of the board of directors. He has been a member of the SAIC board since 2002. Tom Baybrook, current acting president of SAIC’s Defense Solutions Group (DSG), will serve as the company’s chief of administration and operations.
John Hartley, SAIC senior vice president and corporate controller, will be the company’s CFO. Hartley has been SAIC’s corporate controller and principal accounting officer since 2005.
Deborah Lee James, SAIC’s current executive vice president for communications and government affairs, will serve as sector president of the company’s technical services sector.
Nazzic Turner, who recently joined the company from CGI, will serve as sector president for Enterprise IT.
“Now is the right time, and we have the right teams to unleash these two world-class companies and the value they can deliver to our customers, employees and shareholders,” Jumper said in a statement.
The separation will take the form of a tax-free spin-off to SAIC stockholders of 100 percent of the shares of a newly formed company, upon final approval by the board. The spin-off is expected to occur in the latter half of next fiscal year.
SAIC, a Fortune 500 company located in McLean, had annual revenues of about $10.6 billion for the fiscal year that ended on January 31, 2012.