Leidos Appoints Former Acting Secretary of Defense Patrick Shanahan to Board of Directors

Rhea-AI Summary

Leidos (NYSE: LDOS) has appointed Patrick Shanahan, former Deputy Secretary of Defense, to its Board of Directors effective February 16, 2022. Shanahan brings extensive experience in defense policies, having contributed to major strategies like the 2018 National Defense Strategy and the establishment of the Joint Artificial Intelligence Center. Leidos Chairman Roger Krone highlighted Shanahan's expertise as an asset for advancing technology and cybersecurity initiatives. Leidos reported $13.7 billion in revenues for FY 2021, emphasizing its role in defense and technology sectors.

Positive

• Appointment of Patrick Shanahan enhances board expertise in defense and technology.
• Shanahan's previous experience includes leading key DoD strategies and advancements in cybersecurity and AI.
• Leidos continues to solidify its leadership in the defense and technology markets.

Negative

• None.

RESTON, Va., Feb. 16, 2022 /PRNewswire/ -- Leidos (NYSE: LDOS), a FORTUNE® 500 science and technology leader, today announced that Patrick Shanahan has been elected to the company's Board of Directors, effective February 16, 2022. Shanahan served as the 33rd Deputy Secretary of Defense from 2017 to 2019, including as Acting Secretary of Defense from Jan. 1, 2019, to June 23, 2019.

Before his time at the Department of Defense, Shanahan served in a variety of senior roles at Boeing, including as senior vice president, Supply Chain & Operations.

"Pat brings a wealth of expertise to the board and offers tremendous value for our shareholders and customers," said Leidos Chairman and Chief Executive Officer Roger Krone. "Having served at the highest levels of the Department of Defense and industry, his insight will be an enormous asset. We look forward to working with him as we spearhead advances in the revolutionary technologies that will make our world safer, healthier and more efficient."

Upon joining the Department of Defense, Mr. Shanahan helped lead the development of several key DoD policies and strategies. This included the 2018 National Defense Strategy, 2018 Department of Defense Cyber Strategy, 2018 Cyber Posture Review, 2018 Nuclear Posture Review and 2019 Missile Defense Review. He was a passionate champion of digital and technological advancement for the department, driving modernization in cybersecurity, artificial intelligence (AI) and cloud computing as well as command, control, and communication.  In June 2018, he instituted the Joint Artificial Intelligence Center (JAIC) and published the Department of Defense's AI Strategy.

A native of Washington State, Mr. Shanahan holds a Bachelor of Science degree in mechanical engineering from the University of Washington and two advanced degrees from the Massachusetts Institute of Technology.

About Leidos
Leidos is a Fortune 500® technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, civil and health markets. Leidos' 43,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Va., Leidos reported annual revenues of approximately $13.7 billion for the fiscal year ended December 31, 2021. For more information, visit www.leidos.com.

Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10-K for the period ended December 31, 2021, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.

Contact:
Melissa Dueñas
(571) 526-6850
Melissa.L.Duenas@leidos.com 

Thomas Doheny
(571) 474-4735
Dohenyt@leidos.com 

Jalen Drummond
(571) 992-5046
Jalen.Drummond@leidos.com

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SOURCE Leidos Holdings, Inc.

FAQ

Who is Patrick Shanahan and what role will he play at Leidos?

Patrick Shanahan is the former Deputy Secretary of Defense appointed to Leidos' Board of Directors, bringing valuable defense and technology insights.

What is the significance of Patrick Shanahan's appointment to Leidos' board?

Shanahan's appointment is significant as it strengthens Leidos' board with expertise in defense technologies and strategic policy development.

When was Patrick Shanahan appointed to the Board of Directors of Leidos?

Patrick Shanahan was appointed to Leidos' Board of Directors effective February 16, 2022.

What experience does Patrick Shanahan bring to Leidos?

Shanahan brings experience from his tenure at the Department of Defense and senior roles at Boeing, focusing on defense strategies and technological innovation.

How much revenue did Leidos report for the fiscal year 2021?

Leidos reported approximately $13.7 billion in revenue for the fiscal year ended December 31, 2021.