As part of plans to separate into two independent publicly-traded companies, Science Applications International Corp. (NYSE: SAI) announced Monday an initial set of executive appointments for both firms.
By the second half of fiscal year 2014, one company will focus on science and technology in the national security, health and engineering sectors while the other will focus on government technical services and enterprise information technology.
Tony Moraco, currently president of SAIC’s ISR group, will serve as chief executive for the services and enterprise IT business while Chairman and CEO John Jumper will hold those same positions at the science and technology business.
Moraco succeeded Chief Operating Officer Stu Shea as ISR group lead in March when Shea elevated to the COO position.
As part of Moraco’s move, SAIC said it will conduct a search for a new executive to serve as president of the national security sector.
Shea will hold the COO and president titles at the science-and-technology business and continue developing a new business model.
Mark Sopp, chief financial officer since 2005, will continue serving as CFO at the science-and-technology business and Vincent Maffeo, general counsel, will also serve in the same capacity at that business.
Jumper and Shea said at the time of the initial spinoff announcement SAIC was designing the new companies to be free of organizational conflicts-of-interest and be differentiated in their own spaces.
SAIC estimates the science-and-technology business as worth $7 billion in pro forma revenue for the fiscal year ending Jan. 31, 2013, with the services and IT business at $4 billion in revenue for the fiscal year.
