Managed services News
Leidos Taps Rolls Royce, Boeing Veteran Tom Bell As CEO
Leidos, No. 11 on CRN’s 2022 Solution Provider 500 with 45,000 full and part-time employees, recorded revenue of $14.4 billion in its last fiscal year, a 5 percent increase from the prior year.
Solution provider giant Leidos said it has named Tom Bell, a veteran executive at both Rolls Royce and Boeing, as its new CEO.
Bell was selected by the company’s board of directors in February to succeed current CEO Roger Krone, who is retiring. Krone has been CEO since 2014 and will stay on through July in an advisory role.
“I’m honored to have been asked to lead Leidos into and through its second decade as an independent company,” Bell said in a statement on Wednesday. “In its first decade, Leidos has demonstrated an unwavering commitment to the missions of our customers. I’m ready to stand with our 45,000 employees to harness technology and push the boundaries of what’s possible, building an even bolder, brighter future together.”
Leidos, No. 11 on CRN’s 2022 Solution Provider 500, declined to comment further when reached by CRN.
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According to a regulatory filing, Bell will be paid $1.25 million every year plus equity awards with an initial value of $4.5 million, consisting of 50 percent performance share awards, 30 percent performance restricted stock units, and 20 percent nonqualified stock options.
Prior to joining Reston, Va.-based solutions provider Leidos, Bell held roles at both Rolls Royce and Boeing, most recently as the president of defense and chairman and CEO at Rolls-Royce North America since 2018. Prior to that he held multiple leadership roles at Boeing for 24 years such as senior vice president of global sales and marketing, lead for strategy, defense and spacelead and vice president of business development for Boeing’s logistic support systems, according to his LinkedIn.
Leidos, which has 45,000 full and part-time employees, recorded revenue of $14.4 billion in its last fiscal year, a 5 percent increase from the prior year. The company’s stock is down 23 percent since Jan. 1 of this year to $80.20 as of Thursday.