DynCorp International Chief Executive Officer and President Bill Ballhaus has announced his resignation.
Ballhaus has been with the firm since 2008 and will remain on the company’s board of directors as vice chairman and will also become a strategic adviser to DynCorp’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, ” Ballhaus said. “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 adviser to its owners.”
Ballhaus will be replaced by Steve Gaffney, chairman of DI’s board of directors, who is set to leave IAP Worldwide Services where he has served as CEO since January 2009.