Preferred Systems Solutions hires new CEO

Preferred Systems Solutions said Wednesday it has hired three-decade federal market veteran and former Parsons executive Randy Morgan as CEO.

Morgan succeeds current CEO Jim Ballard, who will transition to chairman of the board of directors at the government services contractor.

McLean, Virginia-based PSS is backed by private equity firm CM Equity Partners, which acquired the company in 2007.

Prior to PSS, Morgan was executive vice president for operations at Parsons Corp.'s federal business and led business pursuits in the defense and intelligence markets. He joined Parsons in 2011 upon its acquisition of Sparta, where he was president prior to the transaction.

Ballard has led PSS as CEO since August 2017 and before that was president and chief operating officer for nearly three years.