Jim Reagan, executive vice president and chief financial officer of Leidos, was presented his fifth consecutive Wash100 Award last week by Jim Garrettson, CEO of ArchIntel and Executive Mosaic, for expanding the federal portfolio and driving company growth for Leidos.
In 2019, Reagan indicated that Leidos would pursue potential acquisitions of products companies rather than those that offer services only. “A pure products company could also be of interest…I would say the ones we’ve been interested in to this point tend to have some sort of service element to them,” Reagan explained.
Under his leadership and vision, Leidos has made numerous acquisitions and secured multiple contract awards to achieve organic growth for the company as well as continue to expand its technical capabilities into 2020.
This includes the acquisition of Dynetics in Dec. 2019, L3Harris’ security detection and automation businesses for $1 billion in cash in Feb. 2020 as well as a number of major contract awards and task orders.
During a recent earnings call in Aug. 2020, Reagan revealed that the company grew over 6.8 percent over the prior year to end the second quarter of its 2020 fiscal year and contracted three percent organically.
He claims that without the COVID-19 pandemic influencing the sector, Ledios’ organic growth in the second quarter would have been five percent over the year prior.
Reagan shared his focus and commitment to long-term balanced capital deployment strategy for Leidos moving forward. He also revealed that approximately 1,000 employees from the L3Harris’ acquisition and nearly 2,000 new hires have come to pass in Leidos’ second quarter.
Reagan was the third member of Leidos to receive a 2020 Wash100 Award. He joins Leidos Chairman, CEO Roger Krone and Gerry Fasano, president of Leidos’ Defense Group, as the recipients of the most prestigious award in all of government contracting (GovCon).
Executive Mosaic congratulates Leidos and Jim Reagan for his fifth consecutive Wash100 Award. His commitment to drive company growth has cemented his position in the GovCon sector as one of the most significant executives of consequence.