Home / M&A Activity / Report: SAIC Shareholders Vote For Name Change, Elect CEO Jumper Chairman

Report: SAIC Shareholders Vote For Name Change, Elect CEO Jumper Chairman

John Jumper, SAIC

SAIC Inc. (NYSE: SAI) shareholders approved an internal merger of its wholly owned subsidiary, Science Applications International Corp., with the holding company on June 15, the Washington Business Journal reports.

According to Jill Aitoro‘s report, the company will now go by the long-hand version of the name, nearly six years after taking on the SAIC Inc. name as part of its initial public offering.

Revenue, net income, total assets and total liabilities will remain identical under the name, according to the report.

The board of directors also elected CEO John Jumper chairman and Lawrence Nussdorf lead director, Aitoro reported.

Nussdorf is the president and chief operating officer of Clark Construction Group‘s parent company.

The board also approved a bylaw to designate an independent lead director whenever the board’s chair is a company executive, according to the report.

Aitoro adds that the company’s ticker symbol will likely remain the same.

Check Also

Four Firms to Extend Navy Contingency Construction Services Under $92M IDIQ Modification

Four companies been awarded a $92M modification under a U.S. Navy indefinite-delivery/indefinite-quantity contract for global contingency construction services to the military branch, the Department of Defense and federal civilian agencies.

Intelligence Vets Thomas Donnelly, Jim Gray Join SOSi; Julian Setian Quoted

Intelligence executives Thomas Donnelly and Jim Gray have joined SOS International to help the Reston, Va.-based company grow its portfolio of intelligence and analytics services and pursue future task order opportunities under the Defense Intelligence Agency’s Solutions for Intelligence Analysis 3 contract vehicle.