MCLEAN, Va., Jan. 13, 2014 /PRNewswire/ -- Science Applications International Corporation (NYSE: SAIC) today announced a reorganization of a number of corporate departments as it continues to refine its new centralized corporate structure and operating model.
SAIC CEO Tony Moraco will restructure his management team effective February 1, recognizing the functions of information technology, communications, and corporate development as direct reports. Executive Vice President and Chief Administration and Operations Officer Tom Baybrook will retire from SAIC to pursue other interests. Baybrook's additional functional responsibilities for real estate, contracts, procurement, shared services, government affairs, and business development operations will be realigned to existing SAIC executives.
"This realignment is a continuation of our efforts to streamline operations and improve market competitiveness," Moraco said. "Elevating the three functions to the executive leadership team also is designed to enable SAIC to be more proactive and responsive to market requirements and opportunities.
"We thank Tom for his 48 years of service to both the country and the industry, including his leadership and dedication displayed in the company's recently completed spin-off transaction," Moraco continued. "We wish him well in his future endeavors."
SAIC is a leading technology integrator providing full life-cycle services and solutions in the technical, engineering, and enterprise information technology markets. SAIC's deep domain knowledge and customer relationships enable the delivery of systems engineering and integration offerings for large, complex government and commercial projects. SAIC's approximately 14,000 employees serve customers in the U.S. federal government, state/local, and global commercial markets, specializing in providing a broad range of higher-end, differentiated technical capabilities. Headquartered in McLean, Va., SAIC has annual revenues of about $4 billion. For more information, visit http://www.saic.com/.
Certain statements in this announcement constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and a number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Form 10 and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.