ARLINGTON, Va.--(BUSINESS WIRE)--
CACI International Inc (NYSE: CACI) announced today that Mr. Ken Asbury will retire as CACI’s President and Chief Executive Officer and as a director effective June 30, 2019. CACI’s Board of Directors has elected Mr. John Mengucci, currently the Company’s Chief Operating Officer, to succeed Mr. Asbury as President and Chief Executive Officer effective July 1, 2019. The Board has also elected Mr. Mengucci to serve as a member of the Board, effective July 1, 2019. Mr. Asbury, in accordance with personal plans, will retire from CACI later this year.
“On behalf of the Board, I want to thank Ken for his exceptional leadership, business acumen, and unwavering commitment to mission and operational excellence,” said Dr. J.P. London, Executive Chairman and Chairman of the Board of Directors. “Working with the Board and CACI’s senior management team, Ken has overseen tremendous results in achieving significant growth and financial milestones while transforming our business for the future. As steward of our long-standing and highly-successful acquisition program, Ken oversaw the acquisitions of Six3 Systems, NSS and LGS Innovations, as well as others, which increased our ability to pursue specialized, high-value, and high growth markets. These strategic moves provide CACI with the foundation to deliver predictable, profitable growth and value to our shareholders. We look forward to building on that progress with a seamless transition to Mr. Mengucci as our next CEO. John brings the leadership, vision, values and mastery of technology to drive performance for all our stakeholders.”
“I have been privileged to lead CACI through a period of transformation and I am proud of what we have accomplished together,” said Asbury. “I am excited about the future of CACI under John’s leadership and have confidence that the leadership, vision and values John has demonstrated, through the successful implementation of our strategic initiatives and management of our operations, will lead to continuing success.”
Mr. Asbury, who joined CACI in 2013, and Mr. Mengucci, who joined CACI in 2012, have led the Company’s transition to a higher-value solutions business across CACI’s addressable markets. Under their leadership, the CACI team has consistently delivered strong operating performance and created significant value for our shareholders. Achievements include record levels of revenue, profitability and contract awards, while at the same time reshaping CACI’s portfolio and positioning CACI as a leader in our industry. In recognition, CACI was named by Fortune magazine as one of the World’s Most Admired Companies. Under the Board’s guidance, Ken and John have been instrumental in developing and implementing CACI’s strategic initiatives into high demand markets and technologies to increase the scale of the organization, accelerate business growth and develop immediate and long-term solutions for CACI’s customers. Mr. Mengucci was responsible for developing and implementing our market-aligned strategy, deploying resources in areas of growth, and integrating strategic acquisitions that were each critical to our strong operational performance and our continued ability to deliver products and solutions that align with customers’ requirements. Mr. Mengucci was also responsible for establishing the Company’s Shared Services Center.
“I appreciate the trust Dr. London and the rest of the Board has in my leadership and I am eager to leverage the success CACI has achieved under Ken to strengthen our operational and financial performance. We will continue to work with our talented and dedicated team to support our customers’ missions, deliver sustainable growth and drive shareholder value,” said Mengucci.
CACI provides information solutions and services in support of national security missions and government transformation for Intelligence, Defense, and Federal Civilian customers. A Fortune World’s Most Admired Company, CACI is a member of the Fortune 1000 Largest Companies, the Russell 2000 Index, and the S&P MidCap 400 Index. CACI’s sustained commitment to ethics and integrity defines its corporate culture and drives its success. With approximately 22,000 employees worldwide, CACI provides dynamic career opportunities for military veterans and industry professionals to support the nation’s most critical missions. Join us! www.caci.com.
There are statements made herein which do not address historical facts, and therefore could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the risk factors set forth in CACI’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018, and other such filings that CACI makes with the Securities and Exchange Commission from time to time. Any forward-looking statements should not be unduly relied upon and only speak as of the date hereof.