SAIC said June 23 that CEO Ken Dahlberg will retire from his position Sept. 20, but continue to serve as chairman of the board until June 2010 at the next shareholders meeting.
Succeeding Dahlberg, who reaches the defense contractor’s mandatory retirement age of 65 in October, is Walt Havenstein, who resigned as CEO at BAE Systems on June 22.
Havenstein, 60, had made a bid last year to become chief executive at BAE Systems plc, a British defense company, but the business promoted another BAE executive.
BAE Systems Inc., a Maryland-based subsidiary of BAE Systems plc, had sales last year of $20 billion, twice as much as SAIC’s revenue, and 53,000 employees.
In other news, two-thirds of SAIC shareholders approved a proposal June 19 to convert their preferred shares to common stock, thereby ending the status of majority ownership by company employees. Following the conversion, workers would own 48 percent of the engineering firm founded in 1969 by Bob Beyster, who left the business in 2004.
SAIC has 45,000 employees worldwide, including 4,200 at its San Diego headquarters.
, Mike Allen