Kratos Appoints Deanna Lund to Board of Directors

Rhea-AI Summary

Kratos Defense & Security Solutions (Nasdaq: KTOS) announced the appointment of Deanna Hom Lund to its Board of Directors. Lund has served as Executive Vice President and CFO since April 2009, bringing extensive experience from Titan Corporation and Arthur Andersen. The Board, now expanded to nine members, commended Lund's strategic leadership in finance. Her addition is expected to bolster Kratos' efforts in offering affordable technology for national security. The company anticipates filling another board vacancy within 18 months.

Positive

• Deanna Hom Lund's appointment brings extensive experience in finance and corporate development.
• Lund's leadership is expected to enhance Kratos' strategy in providing affordable national security solutions.

Negative

• Concerns about continuity in leadership during the board expansion process.

SAN DIEGO, June 03, 2021 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, is pleased to announce the appointment of Deanna Hom Lund to the Company’s Board of Directors.

Ms. Lund has served as Kratos’ Executive Vice President and Chief Financial Officer since April 2009. Ms. Lund was Kratos’ Senior Vice President and Chief Financial Officer from April 2004 to March 2009. Prior to joining Kratos, Ms. Lund was the Vice President and Corporate Controller of Titan Corporation from July 1998 to 2004. Ms. Lund was also Titan’s Corporate Controller from December 1996 to July 1998, and its Corporate Manager of Operations Analysis from 1993 to 1996. Prior to Titan, Ms. Lund worked for Arthur Andersen, LLP. Ms. Lund received her bachelor’s degree in Accounting from San Diego State University, magna cum laude, and is a Certified Public Accountant.

William Hoglund, the Chairman of the Board, said, “We are delighted that Deanna will be joining our Board. She is a strategic, engaging leader that brings a wealth of skills and experience in finance and corporate development. She will be an excellent addition to the Board as Kratos continues to execute its vision and strategy to be the go-to provider of affordable products, systems and solutions that are rapidly developed, demonstrated and fielded for the War Fighter.”

Upon the unanimous recommendation of the Board’s Nomination & Governance Committee, the Board of Directors also voted to increase the size of the Company’s Board to nine members, with Ms. Lund filling one of the two vacancies. The Board of Directors expects to fill the second vacancy within the next 18 months when a suitable candidate is identified.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

FAQ

What recent changes occurred in Kratos Defense & Security Solutions' board of directors?

Deanna Hom Lund was appointed to the Board of Directors, increasing the board size to nine members.

Who is Deanna Hom Lund and what is her role at Kratos?

Deanna Hom Lund is the Executive Vice President and CFO of Kratos, now also serving on its Board of Directors.

What experience does Deanna Hom Lund bring to the board?

Lund has significant experience in finance, having previously served at Titan Corporation and Arthur Andersen.

When does Kratos expect to fill the second board vacancy?

Kratos aims to fill the second vacancy within the next 18 months.

How does Deanna Hom Lund's appointment impact Kratos' strategy?

Her expertise is expected to strengthen Kratos' strategy in offering cost-effective solutions for national security.