SAIC, Inc., which is headquarted in McLean, announced Monday that Walt Havenstein will retire as chief executive officer in June after leading the huge government-contracting company for a little more than two years.
Havenstein said he was leaving for personal reasons, according to a press release from the company.
The Washington Post reported: In recent months, Havenstein has spoken candidly about the budget challenges facing government contractors. In its most recent earnings announcement, SAIC reported roughly 6 percent drops in revenue and profit.
"The board of directors will conduct a thorough and thoughtful search for a successor, considering internal and external candidates," Havenstein said. "The transition plan we have adopted will allow me to participate in the selection and we will assure a smooth transition," according to the press release.
Havenstein said in a message to employees that "it is an honor to work with you and be associated with the great work you do for our customers and the nation. I am proud of our senior management, our line organization leaders and all of our colleagues. We have accomplished a great deal together and we will continue that record of accomplishment," the statement said.
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Havenstein came to SAIC from BAE Systems, which bases its U.S. operations in Arlington, where he was chief executive and president. He also had served as BAE’s chief operating officer and had headed the company’s electronics and integrated solutions unit. Previously, Havenstein had served as president of the Sanders defense electronics business, which was acquired by BAE from Lockheed Martin in 2000, the Post reported.
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