DynCorp promotes Krivo to CEO, Von Thaer named Battelle's chief executive

DynCorp International has promoted 10-year company veteran and Chief Operating Officer George Krivo to CEO in the wake of former chief executive Lou Von Thaer's resignation.

Columbus, Ohio-based nonprofit organization Battelle said Friday it has hired Von Thaer as its chief executive and he will start in the role on Oct. 1. DynCorp said in a regulatory filing that Von Thaer submitted his resignation Monday and his last day at the company was Friday.

Krivo takes the helm in the midst of a turnaround effort by DynCorp as the military logistics services contractor has seen its revenue decline in half over five years from its $4 billion peak in 2012. DynCorp has felt the downturn from the winding down of combat operations in Iraq and force reductions in Afghanistan.

McLean, Va.-based DynCorp also renegotiated the terms of its debt with creditors last year to avoid a default. The company won a much-needed aircraft maintenance services contract in June with the Army that has a ceiling value of $795.3 million over six years and is worth $124.5 million in the initial base year.

Krivo has held the COO role at DynCorp since October 2016. His pre-DynCorp career includes executive roles at Science Applications International Corp. and DRS Technologies.