Dave Dacquino’s 5-yr operate as the CEO of Serco Inc., the North American arm of the British authorities solutions company, is coming to a close. The organization declared his retirement Tuesday, efficient Sept. 1.
Lined up to realize success Dacquino is Tom Watson, who is currently being promoted from his publish as senior vice president of the defense company.
Dacquino took the reins of CEO in June 2017 right after serving as a senior vice president for two several years. Prior to Serco, he was president and CEO of SkyLink and worked at Raytheon. He also had a 20-year profession at Lockheed Martin.
However he is giving up the CEO position, Dacquino will continue being as chair of the company’s board of directors in North The usa.
In the course of his run as CEO, he led the firm by a growth technique that involved the acquisition of Alion Science and Technology’s marine engineering and sustainment organization.
That $336 million transaction “vaulted” the organization to a unique amount, he claimed a calendar year just after the offer shut.
Yet another component of his approach was to go after greater contracts, which incorporated strolling away from lower-priced do the job that dominated the marketplace when he very first grew to become CEO.
Dacquino also led a next acquisition in 2021 to buy Whitney, Bradley & Brown for $295 million, which added more Army, Air Drive and House Pressure customers.
Both equally the Alion and WBB acquisitions included abilities that enable Serco target on upfront style and design function for weapons units and platforms as very well as prolonged-expression sustainment, Dacquino mentioned at the time.
In his place as senior vice president of protection, Watson led the integration of WBB and Alion, as properly as the drive to combine those abilities in pursuit of new possibilities.
Shortly soon after the WBB acquisition shut, he claimed the team had presently discovered $500 million in new contracts.
Watson joined Serco in 2018 right after serving as senior vice president and general manager of the Navy and Marine Corps organization at Science Programs Intercontinental Corp.
Prior to SAIC, he worked at RCI, which coincidently was acquired to Serco in 2004. He also served in the Navy as an electronics technician for 6 several years.
Serco Group PLC’s main govt Rupert Soames reported Watson was picked after an inside and exterior search for Dacquino’s replacement.
“Tom has carried out a huge occupation foremost our North The us Protection company, and has demonstrated real dedication to Serco’s mission, clients, and colleagues,” Soames mentioned.
Below Dacquino’s leadership, the North American business enterprise had a 15 p.c compound once-a-year development price.
“I am grateful to have expended far more than 7 many years with Serco, and I am deeply honored to have had the possibility to direct this team for the past five,” Dacquino said.