Unedited news and product information from vendors.
Executive Vice President Arnold Punaro Retires from SAIC
May 04, 2010 (04:05 PM EDT)
MCLEAN, Va., May 4 /PRNewswire-FirstCall/ -- Science Applications International Corporation (SAIC) (NYSE: SAI) today announced Executive Vice President Arnold Punaro would retire effective May 14.
Chief Executive Officer Walt Havenstein, who announced the retirement, praised Punaro's contribution to SAIC and said he would continue as a consultant to smooth transition of his duties.
"I accepted Arnold's decision very reluctantly," said Havenstein. "He has made a tremendous contribution to SAIC over his 14 years with unmatched knowledge of Washington and a singular ability to drive projects through to successful completion. He will continue to make a contribution as he assures a smooth transition of his duties."
Punaro said he will start a strategic consulting business, complete a book on national security decision making as well as make room to take on government-related projects. "The company's leadership and its employees give me great confidence and optimism about SAIC's future. I have been privileged to work with wonderful people at SAIC and to contribute to a great success story, but the time is right for me to change lanes," Punaro said. "I intend to enter in full voice the debate over how to best use our inevitably declining resources to deal with an increasingly dangerous world."
Punaro is the senior corporate official responsible for SAIC's government affairs, worldwide communications, real estate and support operations as well as general manager of their Washington operations with over 17,500 employees in this region. He joined SAIC in March 1997.
SAIC is a FORTUNE 500® scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The company's approximately 45,000 employees serve customers in the U.S. Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. Headquartered in McLean, Va., SAIC had annual revenues of $10.8 billion for its fiscal year ended January 31, 2010. For more information, visit www.saic.com. SAIC: From Science To Solutions®
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2010, and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.