The information in these press releases was accurate at the time of posting but may have been superseded by subsequent news releases.
FALLS CHURCH, Va. (August 20, 2010) – DynCorp International (DI) today announced that Steve Gaffney will become the company’s chief executive officer and president effective August 25, 2010, the date that current CEO and president, Bill Ballhaus, has announced that he will resign. Mr. Ballhaus, who joined the company in May 2008, will continue to serve on the company’s Board of Directors as vice chairman and has accepted a position as a strategic advisor to DI’s new parent, Cerberus Capital Management L.P.
“Over the past two years the DI team has accomplished great things: we redefined our core values, strengthened our leadership programs, entered new business sectors and expanded our global footprint,” said Mr. Ballhaus. “The company is now in a position of strength and, while I am stepping down from my day-to-day role, I look forward to remaining actively engaged in DI’s future through my involvement on the Board and as a senior advisor to its owners."
Mr. Gaffney, who already serves as chairman of DI’s Board of Directors
and will operate out of the company’s Falls Church headquarters, joins
DI from IAP Worldwide Services, Inc. (IAP), where he has served as CEO
since January 2009.
“Bill and I have worked closely together over the past several months,
discussing the company’s operations, management and future. I look
forward to continuing to work with Bill in his role as a key strategic
advisor and on the company’s Board,” said Mr. Gaffney. “He deserves a
great deal of credit for expanding the company’s global footprint and
establishing a solid foundation of corporate goals and core values that
will guide the company’s future success.”
Mr. Gaffney has more than 25 years of leadership experience in the
defense industry. In addition to his experience with IAP, he served as
senior vice president of ITT Corporation and president of ITT Defense
Electronics and Services. Mr. Gaffney was responsible for establishing
ITT’s strategic direction as well as financial and operating
performances. Under his leadership, the company grew more than 60
percent as Mr. Gaffney executed both organic and acquisition strategies.
He also had responsibility for driving Lean Six Sigma and Operational
Excellence across all of ITT.
Early in his career, Mr. Gaffney led business segments at Litton
Industries, AlliedSignal and Smith Industries. He earned a Bachelor of
Electrical Engineering degree from Lafayette College in Easton,
Pennsylvania, and is certified as a Lean Six Sigma Champion and Green
Belt.
About DynCorp International
DynCorp International is a global government services provider in
support of U.S. national security and foreign policy objectives,
delivering support solutions for defense, diplomacy, and international
development. DI operates major programs in logistics, platform support,
contingency operations, and training and mentoring to reinforce
security, community stability, and the rule of law. DynCorp
International is headquartered in Falls Church, Va. For more
information, visit www.dyn-intl.com.
DI Blogs: DI Development | Inside DI | DI at Work