MCLEAN, Va., June 25, 2012 /PRNewswire/ -- SAIC, Inc. (SAIC) (NYSE: SAI) announced today that President and Chief Executive Officer John P. Jumper has been elected Chair of the SAIC Board of Directors, effective June 15. Jumper succeeds A. Thomas Young as Chair of the Board. Mr. Young will continue to serve on the Board as an independent director.
The Board also appointed Lawrence C. Nussdorf, an independent director, to serve as Lead Director. Mr. Nussdorf since 1998 is President and Chief Operating Officer of Clark Enterprises, Inc., a privately held real estate, construction and investment company, whose interests include Clark Construction Group, LLC, a general contracting company. He also serves on the Board of Pepco Holdings, Inc., where he previously served as Lead Independent Director.
"I'm honored by the Board's election, and very grateful for the superb leadership and vision Tom has displayed as Chair of the SAIC Board of Directors," said Jumper. "Together with our independent Lead Director, Larry Nussdorf, I look forward to continuing Tom's legacy of Board leadership for the company."
"It has been my privilege to serve SAIC as Chair of the Board," said Young. "This is an excellent leadership team, and I have full confidence in John's ability to keep SAIC at the forefront of our industry and in Larry's leadership in maintaining Board independence as it fulfills its oversight responsibilities."
SAIC is a FORTUNE 500® scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The Company's approximately 40,000 employees serve customers in the U.S. Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. Headquartered in McLean, Va., SAIC had annual revenues of approximately $10.6 billion for its fiscal year ended January 31, 2012. For more information, visit http://www.saic.com/. SAIC: From Science to Solutions®
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. 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 Annual Report on Form 10-K for the period ended January 31, 2012, 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.