NCI announces executive management changes effective October 1, 2015
NCI, Inc., a Reston, VA-based provider of information technology (IT) and professional services and solutions to U.S. Federal Government agencies, announced July 29 that Chairman and CEO Charles Narang will step down as CEO effective October 1, 2015, and will transition to non-executive chairman. The board of directors will name Brian Clark president and CEO at its next scheduled meeting to be held July 30, 2015.
Narang founded NCI in 1989, serving as chairman and CEO since that time. Under Narang’s leadership, NCI became a publicly-traded company in 2005 and has grown to more than 1,800 employees working in more than 100 locations around the world.
Narang commented on the transition: “This is a momentous move for the company. Since founding NCI more than 25 years ago, we have enjoyed times of tremendous growth. We also have endured lean years because of tight budgets, government shutdowns and procurement challenges. I will continue to stay connected to this great company as chairman of the board, although I will hand the day-to-day operations of NCI over to Brian. I am confident that under Brian’s leadership, NCI will grow and succeed. This company’s best days still lie ahead.”
Clark, 44, has been president of NCI since January 2012 and was elected to NCI’s board of directors in February 2012. From April 2011 until December 2011, he served as executive vice president, chief financial officer and treasurer. Mr. Clark previously served as the executive vice president, chief financial officer and treasurer of Stanley, Inc., a publicly-traded provider of IT services and solutions to U.S. defense, intelligence and federal civilian government agencies, from 2006 until 2010 when Stanley was acquired by CGI Group. Prior to joining Stanley, he held various executive positions at Titan Corporation from 2001 to 2006, including vice president and corporate controller. He also served as Titan’s Vice President of Strategic Transactions where he managed the company’s mergers and acquisitions program, as well as divestitures, equity joint ventures and other strategic transactions.
“I am honored and very excited to take on this new challenge and opportunity. I am proud of what we have accomplished, particularly in improving profitability while restructuring and investing in growth initiatives,” said Clark. “We remain confident in NCI’s future prospects and we have the capital, liquidity and right team in place to execute our existing business plan.
“At the same time, we intend to explore new strategic avenues for the company that could accelerate the realization of value for our stockholders as we await the award of meaningful new business opportunities. These include acquisitions and other options. We expect to update everyone on our progress when appropriate.”
Source: NCI, Inc.