Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Vectrus, Inc. | vectrus8-kitem502ceopresan.htm |
| EX-10.01 - EXHIBIT 10.01 - Vectrus, Inc. | prowsignedofferattachmen.htm |
[DRAFT] PRESS RELEASE
Investors
Mike Smith
719-637-5773
michael.smith@vectrus.com
Media
George Rhynedance
719-637-4182
george.rhynedance@vectrus.com
Vectrus Appoints Charles L. Prow President and Chief Executive Officer
Prow Brings 30 years of Information Technology and Federal Services Experience
COLORADO SPRINGS, Colo., December 6, 2016 — Vectrus, Inc. (NYSE:VEC) announced that the
board of directors has appointed Charles (Chuck) Prow as the company’s president and chief
executive officer, effective today. Prow has a proven track record in government services, with over
25 years of leadership positions at IBM Corporation, PricewaterhouseCoopers, and Coopers &
Lybrand. Prow was also appointed to the board of directors and succeeds Kenneth W. Hunzeker,
who retired effective December 5, 2016.
“We are pleased to have Chuck join the Vectrus team. He brings a strong track record of business
development success, as well as P&L performance. His experience in working with a wide range of
government customers, as well as his understanding of the role technology can play in the services
industry, makes him well-suited to lead Vectrus into the next phase of our development,” said Lou
Giuliano, non-executive chairman of the board.
As part of the Vectrus succession planning process, the board undertook a comprehensive search.
Based on his solid record of developing strong teams and expanding market share at various federal
agencies, Prow was selected as the best candidate to lead Vectrus in growing the business and
increasing shareholder value.
Prow, 57, ran large global government services organizations, delivering solutions to a wide array of
Department of Defense and other government customers. During his tenure at IBM, Prow was
successful in creating market differentiation through the integration of IBM’s technology and service
competencies. He established strategies that focused on delivering complex solutions to critical
government missions for national security, federal civilian agencies, and state and local entities.
These efforts resulted in market share expansion, revenue growth, and margin improvement.
“We believe Chuck’s broad federal experience and rich skill set will assist Vectrus in expanding our
customer base and capturing new opportunities we see in the facilities and logistics services market.
Additionally, Chuck has an established track record associated with IT, which represents a growth
area for Vectrus. We are looking forward to his leadership and contributions in enhancing Vectrus’
position in this market,” said Giuliano.
2
Prow said, “The opportunity to lead an organization that is performing some of the most important
missions across the world is a great honor and responsibility. I’m looking forward to bringing my
experience and skill set to build on what the team has already achieved and to continue to position
Vectrus as a premier provider of IT, facility and logistic services.”
“On behalf of the board, I want to thank Ken for his leadership over the past six years. His efforts in
guiding Vectrus through the spin-off and its first two years as a public company created a solid
foundation. He has enabled Vectrus to establish a strong reputation of supporting customers’
missions with exemplary contract execution. Importantly, Ken will participate in the transition process,
and is eligible to receive the benefits outlined in his employment agreement. This will ensure that the
transition is accomplished in the most effective manner," said Giuliano.
About Vectrus
Vectrus is a leading, global government services company with a history in the services market that
dates back more than 70 years. The company provides facility and logistics services, and information
technology and network communication services to U.S. government customers around the world.
Vectrus is differentiated by operational excellence, superior program performance, a history of long-
term customer relationships, and a strong commitment to their mission success. Vectrus is
headquartered in Colorado Springs, Colo., and includes about 6,000 employees spanning 132
locations in 18 countries. In 2015, Vectrus generated sales of $1.2 billion. For more information, visit
our website at http://www.vectrus.com or connect with us on Facebook, Twitter, LinkedIn, and
YouTube.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 (the "Act"): Certain
material presented herein includes forward-looking statements intended to qualify for the safe harbor
from liability established by the Act. These forward-looking statements include, but are not limited to,
statements about our future prospects, contract opportunities, bids and awards, business strategy,
outlook, objectives, plans, intentions or goals, and any discussion of future operating or financial
performance. Whenever used, words such as "may," "are considering," "will," "likely," "anticipate,"
"estimate," "expect," "intend," "plan," "believe," "could," "potential," "continue," or similar terminology
are forward-looking statements. These statements are based on the beliefs and assumptions of our
management based on information currently available to management. Forward-looking statements
are not guarantees of future performance and are subject to risks and uncertainties that could cause
actual results to differ materially from the results contemplated by the forward-looking statements, our
historical experience and our present expectations or projections. These risks and uncertainties
include, but are not limited to factors set forth in Part I, Item 1A, – “Risk Factors,” and elsewhere in our
2015 Annual Report on Form 10-K and described from time to time in our future reports filed with the
Securities and Exchange Commission. We undertake no obligation to update any forward-looking
statements, whether as a result of new information, future events or otherwise, except as required by
law.