MCLEAN, Va., June 21 /PRNewswire-FirstCall/ -- SAIC, Inc. (NYSE: SAI) today announced that A. Thomas Young has been elected non-executive Chair of the Board of Directors effective June 18, 2010. Young succeeds Ken Dahlberg, who retired from the board on June 18 following the company's Annual Meeting of Stockholders.
"On behalf of the board, I would like to thank Ken Dahlberg for his years of leadership and guidance while serving as chairman and chief executive officer of SAIC," said Young. "I am honored to be elected chair and look forward to working with the board and management team to maintain the company's high level of performance and commitment to our long term objective of increasing shareholder value."
Young has been a member of the SAIC Board of Directors since 1995, and most recently served as the Board's independent Lead Director. He will continue to serve as a member of the nominating and corporate governance committee and the finance committee. He retired from Lockheed Martin Corp. as an Executive Vice President in 1995. Prior to its merger with Lockheed Corporation, Young served as the President and Chief Operating Officer of Martin Marietta from 1990 to 1995.
"As a board member for the past 15 years, Tom Young has provided invaluable guidance and advice to the company," said Walt Havenstein, SAIC chief executive officer and board member. "With his knowledge of our business and leadership experience, he will help guide us through our next phase of growth."
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 45,000 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 $10.8 billion for its fiscal year ended January 31, 2010. For more information, visit 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, 2010, 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.