Sloane out at SRA; new CEO named

Just days after it closed a deal to be acquired by a private equity group, SRA International is bringing on a new CEO.

The company named William Ballhaus as its new CEO and board member. Stanton Sloane, who held the post since April 2007, stepped down July 22 to pursue other interests.

SRA founder Ernst Volgenau remains chairman of the board under the majority ownership of Providence Equity Partners, which closed its $1.9 billion deal earlier this week.

Ballhaus, 43, previously served as CEO and president at DynCorp from May 2008 to August 2010. He also was president of the BAE Systems network systems, national security solutions and mission solutions businesses.

“This is an exciting time for our company, and we all look forward to working with Bill as we pursue the significant opportunities ahead,” Volgenau said in a statement.

Sloane joined SRA from Lockheed Martin Corp., where was executive vice president of the Integrated Systems and Solutions division. He began his career with General Electric Aerospace in 1984. He also served in the U.S. Navy.

“We thank Stan for his many valuable contributions to SRA over the last four years and wish him the best in his future endeavors,” Volgenau said.

Under Sloane, SRA’s revenue grew from $1.3 billion in 2007 to $1.7 billion in 2010. The company has not reported its 2011 results, but through the first nine months of its fiscal 2011, revenue reached $1.3 billion.

Meanwhile, net income fell from $63.4 million in 2007 to $18.4 million in 2010. For the first three quarters of its 2011, net income had bounced back to $30.2 million.

Ballhaus is a graduate of the University of California at Davis and holds master’s and doctorate degrees in aeronautics from Stanford University as well as a master’s degree in business administration from the Anderson Graduate School of Management at UCLA.