GTSI's Young gives up CEO role
- By Nick Wakeman, Patience Wait
- Feb 16, 2006
GTSI Corp. has restructured its executive offices with Dendy Young dropping the chief executive officer title and James Leto coming on board as the new president and CEO. Young remains the chairman of the value-added reseller.
The move comes just days after GTSI announced it was cutting 80 jobs.
Leto joins GTSI after serving as CEO of program management firm Robbins-Gioia. He has been a member of GTSI's board of directors since 1996 and will keep his spot on the board. Leto also is the former chairman and CEO of PRC Inc., a systems integrator and IT services company that is now part of Northrop Grumman Corp.
In a company statement, Young said the move to split the chairman and CEO positions is an "essential corporate governance best practice." As chairman, Young will focus on strategy and alignment of the business, he said.
Like many resellers, GTSI is trying to shift its business model from selling products to offering more solutions and services. The job cuts were necessary in part because of that shifting focus, Young told Washington Technology when the cuts were announced.
GTSI is based in Chantilly, Va., and is ranked No. 19 on Washington Technology's 2005 Top 100 list of the largest government contractors. The company has more than $1 billion in annual revenue.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.