Leonardo DRS Announces Appointment of Eric C. Salzman to Board of Directors

Rhea-AI Summary

Leonardo DRS, Inc. has appointed Eric C. Salzman to its Board of Directors, effective November 28, 2022. Salzman, who brings significant experience in financial matters and corporate governance, will serve on the Audit Committee and the Nominating and Corporate Governance Committees. His background includes a role as CEO of Safeguard Scientifics and a history of leadership in various high-tech and manufacturing companies. The company anticipates that Salzman's expertise will contribute to their growth strategies as they transition into a public entity.

Positive

• Appointment of Eric C. Salzman to the Board expected to enhance leadership and governance.
• Salzman's diverse industry experience may drive growth and strategic initiatives.

Negative

• Potential concerns about continuity due to leadership changes as DRS adjusts to being a public company.

ARLINGTON, Va.--(BUSINESS WIRE)-- Leonardo DRS, Inc. (“DRS”) announced today the appointment of Eric C. Salzman to the company’s Board of Directors. His appointment was effective on November 28, 2022.

(Photo: Business Wire)

As a member of the board with expertise in financial matters and corporate governance, Mr. Salzman has been assigned to the Audit Committee and Nominating and Corporate Governance Committees.

“We are delighted to have Eric join our Board of Directors; his deep experience in driving company growth strategies will bring important guidance to DRS as we start our new era as a public company,” said Bill Lynn, Chairman and CEO of Leonardo DRS. “His leadership in a range of companies from high-tech to manufacturing will be invaluable to DRS as we pursue our mission to provide the best technology to the men and women of our Armed Forces."

Mr. Salzman currently serves as the Chief Executive Officer of Safeguard Scientifics, Inc., which he joined in 2020. From 2018 to 2022, Mr. Salzman served as the chairman of the board of SolAero Technologies Corp, a leading manufacturer of satellite solar array panels serving the defense and communications industry.

He has a 25-year track record partnering with public and private growth companies as an investor, board member and strategic advisor. He has worked in M&A, restructuring, and growth and special situations investing at several investment banks and private equity funds, including Credit Suisse and Lehman Brothers.

Mr. Salzman’s industry experience includes technology, software, communications, defense, medical devices, manufacturing, and business services. Since 2008, Mr. Salzman has served as an independent director, executive chairman, non-executive chairman, audit committee chairman, compensation committee chairman, and M&A committee chairman at over 25 public and private companies, including portfolio companies of Carlyle Group, Blackstone, and Francisco Partners. Past board positions include Zenefits, Carnegie Learning, ColorEdge, Capstone Nutrition, FragranceNet, Centinel Spine, ASG Technologies, Sorenson Communications, Syncardia Systems, ShoreTel, and Firth Rixson.

He currently serves as an independent director, member of the Audit Committee, and Chairman of the Compensation Committee at 8x8, Inc.

Mr. Salzman earned a B.A. Honors from the University of Michigan and an MBA from Harvard University.

“I am delighted to be a part of this storied company and play a role in ensuring it continues as a leading mid-tier defense technology company,” said Mr. Salzman. As a new public company, DRS is positioned to reach its full potential – bringing groundbreaking technology to our military customers, and in turn, driving value to our shareholders.”

About Leonardo DRS

Headquartered in Arlington, VA, Leonardo DRS, Inc. is an innovative and agile provider of advanced defense technology to U.S. national security customers and allies around the world. We specialize in the design, development and manufacture of advanced sensing, network computing, force protection, and electric power and propulsion, and other leading mission-critical technologies. Our innovative people are leading the way in developing disruptive technologies for autonomous, dynamic, interconnected, and multi-domain capabilities to defend against new and emerging threats. For more information and to learn more about our full range of capabilities, visit www.LeonardoDRS.com.

Forward-Looking Statements

This communication contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements reflect current expectations, assumptions and estimates of future performance and economic conditions. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221206006029/en/

Leonardo DRS Investor Relations

Steve Vather

Vice President, Investor Relations and Corporate Finance

+1 703 409 2906

stephen.vather@drs.com



Cody Slach or Jeff Grampp, CFA

Gateway Group

+1 949 574 3860

DRS@GatewayIR.com



Leonardo DRS Media

Michael Mount

Vice President, Communications and Public Affairs

+1 571 447 4624

mmount@drs.com

Source: Leonardo DRS, Inc.

FAQ

Who is Eric C. Salzman and what is his role at DRS?

Eric C. Salzman is the newly appointed member of the Board of Directors at Leonardo DRS, effective November 28, 2022.

What committees will Eric C. Salzman serve on at DRS?

He will serve on the Audit Committee and Nominating and Corporate Governance Committees.

What experience does Eric C. Salzman bring to Leonardo DRS?

Salzman brings extensive experience in financial matters, corporate governance, and leadership across various sectors including technology and manufacturing.

What impact is expected from Eric C. Salzman's appointment on DRS?

His appointment is expected to enhance growth strategies and corporate governance as DRS transitions into a public company.

When was Eric C. Salzman appointed to the Board of DRS?

Eric C. Salzman was appointed to the Board of Directors on November 28, 2022.