GTSI chief executive to retire, replacement named

GTSI Corp.’s Jim Leto will step down as chief executive officer on Feb. 15, the end of his current contract, according to a company statement today.

Leto will be succeeded as president and CEO by Scott Friedlander, who has served as president and chief operating officer since November 2007.

Leto will stay on the board of directors until April 21, the scheduled date of GTSI’s annual stockholders meeting. He will remain a GTSI employee until May 31, and then become a consultant until Dec. 31, 2010, pursuant to a transition agreement, the company said.

“We have accomplished a great deal over the past four years,” Leto said. “We have emerged from financial distress, we have become a best place to work and our financial results have improved significantly.”

“The initial financial results are heartening as our strategy and execution in the fourth quarter and for the year appear to have delivered strong results,” he added.

John Toups, GTSI’s chairman of the board, credited Leto with having developed the plan to put the company on a path of profitability.

“We are grateful for Jim’s service and look forward to working with him as a consultant to GTSI in several areas, including shareholder relations and capital investment activities,” Toups said.

Before joining GTSI in 2001, Friedlander spent 19 years with Xerox Corp., rising to the position of vice president and general manager of public sector operations for the North America Solutions Group.

GTSI, of Herndon, Va., ranks No. 49 on Washington Technology’s 2009 Top 100 list of the largest federal government prime contractors.