Mark Sopp, former executive vice president and chief financial officer at Leidos Holdings (NYSE: LDOS), will join KBRÂ (NYSE: KBR) asÂ CFO in the first quarter of 2017 and succeed Brian Ferraioli who will retire.
Houston-based KBR said TuesdayÂ Ferraioli and Sopp will work together to achieve a smooth transition for the company’sÂ financial organization.
Sopp held the CFO role at Leidos for 10 years until his 2015 retirementÂ and heads to KBR as the latter proceeds on its strategy to diversify revenue andÂ grow in the government services market through approximately $870 million in acquisitions closed this year.
KBRÂ closed itsÂ $300 million purchaseÂ of the formerÂ Honeywell Technology SolutionsÂ (NYSE: HON) in SeptemberÂ and completed the $570 million acquisition of Wyle in August to create theÂ standalone $2.5 billionÂ KBRWyleÂ business focused on government services.
“The addition of KBRwyle has brought a large number of reimbursable professional services contracts to our portfolio and we are seeing continued expansion of existing government contracts and task orders for the U.S. and U.K. governments, “Â KBR CEO Stuart Bradie said.
“Mark’s long-time experience in the government contracting sector, including knowledge of the government services investment community, will be immensely helpful as KBR expands our government services segment to achieve better balance between our government and hydrocarbons businesses, “Â Bradie added.
Sopp’s career also includes roles such as seniorÂ VP and CFO at the formerÂ Titan Corp.; director and international controller at Taylor Made Golf Company; and senior auditor at Arthur Andersen & Co.