Chuck Prow, a former head of IBM‘s (NYSE: IBM) global government business and a 12-year Big Blue veteran, has joined Colorado Springs-based government services contractor Vectrus (NYSE: VEC) as CEO and board of directors member in a transition that took effect Tuesday.
Vectrus announced the transitionÂ in aÂ Tuesday releaseÂ and said Ken Hunzeker retired Monday from the company and the board.
Hunzeker led GovCon Index-listed Vectrus from its September 2014 inception, when the company spun offÂ from former parent and defense technology manufacturer ExelisÂ as a standalone government services business.
ProwÂ joinedÂ government management consulting services contractor CPS Professional Services as presidentÂ in August 2015 and held that role for one year, according to Vectrus’ regulatory filing.
He held the positionÂ of general manager for global government industry at IBM for one year prior to CPS and oversaw at least $9 billion in revenue at Big Blue.
Prow heads to Vectrus nearlyÂ one month after the company disclosedÂ the U.S. Army‘s decision toÂ seek revisedÂ bids on a recompeted contract for logistics services in Kuwait that is its largest program and was awarded Sept. 30Â to a joint venture of KBR (NYSE: KBR)Â andÂ Triple Canopy.
TheÂ Kuwait Base Operations and Security Support Services 2.0Â programÂ is Vectrus’ largest in its portfolio and contributed $323 million, orÂ 36 percent of total revenueÂ through nine monthsÂ as of Sept. 30.
Vectrus expects theÂ Government Accountability OfficeÂ to complete a separate review of theÂ Army’s Sept. 1 award of aÂ $70.4 million modification on the branch’sÂ Army Prepositioned Stock-5 contract in Kuwait and Qatar to AECOM‘s (NYSE: ACM)Â URS Federal ServicesÂ business.
VectrusÂ reported $134 million in revenue from APS-5 for the year’s first three quarters at 15 percent of total sales.
Shares in Vectrus have traded down 30 percent since Aug. 31 and the company expects to record $1.19 billion-$1.2 billion this year.