CSC CEO announces retirement plan

Computer Sciences Corp. is in the hunt for a new chairman, president and CEO now that Michael Laphen has announced his plans to retire by Oct. 31, 2012.

He is the latest among several high-level executive moves in the government market. Walt Havenstein, Science Applications International Corp.’s CEO announced plans in early October to retire by June 15, 2012. He cited personal reasons.

Laphen has been chairman since July 30, 2007, having become CEO the previous May. He had been company president beginning in April 2003. He first joined CSC in 1977.

Since Laphen became CEO in 2007, CSC revenue has grown from $14.9 billion to $16.1 billion in 2010. Revenue in 2010, however, dropped from the $16.7 billion CSC reached in 2009.

Net income grew over the same period, from $412 million in 2007 to $834 million in 2010, according to filings with the Securities and Exchange Commission. Earning were down in 2010 from the $1.1 billion the company reached in 2009.

CSC has hired Heidrick & Struggles, an executive recruiting firm, to help the board find a new CEO.

Laphen said he would stay on board until a successor is found and a transition can take place, but he will not stay beyond Oct. 31, 2012.

Other recent personnel moves in the market include Phil Bond resigning as president and CEO of TechAmerica, Dell hiring former EDS and Lee Technologies executive George Newstrom, and GTSI Corp. naming Jeremy Wensinger as its chief operating officer.

CSC is ranked No. 11 on Washington Technology's 2011 Top 100 list of the largest government contractors.

About the Author

Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close
SEARCH

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Our databases track awards back to 2013. Read More

  • Navigating the trends and issues of 2016 Nick Wakeman

    In our latest WT Insider Report, we pull together our best advice, insights and reporting on the trends and issues that will shape the market in 2016 and beyond. Read More

 Top 100 Promo 2016
contracts DB