New CEO for MTC
President and CEO Michael Solley will leave MTC Technologies in October.
WT file photo
MTC Technologies Inc., Dayton, Ohio, named David Gutridge as its new chief executive officer. Gutridge replaces Michael Solley, whose resignation as president and CEO becomes effective Oct. 3.
Solley also will leave his position on the company's board. Gutridge will assume the CEO post upon Solley's departure, the company said. Gutridge is chief financial officer for MTC. A search has begun to fill that position.
Solley, who became CEO in May 2002 after joining the company as president in March 2000, said in a statement that it was time for him to move on. Before coming to MTC, Solley was executive vice president of Nichols Research Corp., and helped with the transition when Computer Sciences Corp. acquired Nichols.
MTC, which was ranked No. 96 on Washington Technology's
2003 Top 100, had revenue of $118.5 million in revenue and $7.7 million in net earnings in 2002. In its most recent guidance for 2003, the company said revenue for 2003 would be between $166 million and $171 million, and net earnings would range from $11.4 million to $11.9 million.