Debora A. Plunkett elected to Board of Directors of Mercury Systems; William K. O’Brien appointed Chairman of the Board with retirement of Vincent Vitto

Rhea-AI Summary

Mercury Systems, Inc. (NASDAQ: MRCY) announced the election of Debora A. Plunkett, a former NSA information assurance director, to its Board of Directors, enhancing its cybersecurity expertise as the company focuses on digital transformation. Concurrently, Vincent Vitto retired as Chairman, with William K. O'Brien appointed as his successor. This leadership transition marks a significant moment for Mercury, with eight of nine board members being independent directors, reflecting a commitment to governance and innovation in the aerospace and defense technology sector.

Positive

• Debora A. Plunkett brings over 30 years of cybersecurity experience, expected to strengthen Mercury's digital transformation efforts.
• The transition in leadership with William K. O'Brien as new Chairman may provide fresh perspectives and continuity.

Negative

• Vincent Vitto's retirement raises concerns over potential leadership continuity and experience gaps.

ANDOVER, Mass., Oct. 27, 2021 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), a leader in trusted, secure mission-critical technologies for aerospace and defense, today announced that Debora A. Plunkett, former director of information assurance at the National Security Agency, was elected to its Board of Directors at the annual meeting of shareholders.

“We are very pleased to announce that Debora has joined our Board of Directors, where her extensive experience in cyber and national security, as well as information assurance, will be an excellent addition especially as we continue Mercury’s digital transformation,” said Mark Aslett, president and chief executive officer of Mercury Systems. “We look forward to benefitting from her insights and expertise as we continue to deliver on our purpose of Innovation That Matters By and For People Who Matter.”

Mercury also announced that Vincent Vitto, Chairman of the Board, retired from the Board effective with the annual meeting on October 27, 2021, and current director, William K. O’Brien has been appointed as new Chairman. Mr. Vitto, the former President and CEO of the Charles Stark Draper Laboratory and former Vice Chairman of the Defense Science Board, joined the Mercury Board in 2006. He was elected Chairman of the Board in 2010 and has chaired the Nominating and Governance Committee. Mr. O’Brien, former Chairman of Enterasys Networks, has served on the Mercury Board of Directors since 2008, including as Chairman of the Audit Committee. He has thirty-three years of experience in auditing and professional services at PricewaterhouseCoopers including serving as global managing partner of PwC.

“Vince’s contributions to Mercury have been significant and meaningful,” continued Aslett. “His extensive knowledge of the aerospace and defense industry and his passion for innovation have helped guide our growing business. We valued Vince’s deep technology expertise, leadership and insights in shaping and building Mercury to the $1 billion company we are today. We’ll miss his counsel and unwavering support of our mission. I look forward to working with Bill in his new role as Chairman.”

With the election of Ms. Plunkett and the retirement of Mr. Vitto, the Board will consist of nine members, eight of which are independent directors.

“I'm thrilled to join Mercury’s Board at such an exciting time,” said Ms. Plunkett. “I’m eager to get to work with my fellow Board members and the executive team to help fulfill Mercury’s vision of making trusted secure mission critical technologies profoundly more accessible to aerospace and defense.”

A former Director of Information Assurance at the National Security Agency, Ms. Plunkett has more than 30 years of experience in cybersecurity and is currently Principal of Plunkett Associates LLC, a consulting business. She is a Senior Fellow at Harvard’s Belfer Center and an Adjunct Professor of Cybersecurity at the University of Maryland. Ms. Plunkett served on the National Security Council at the White House in the Administrations of Presidents Clinton and George W. Bush where she developed national cybersecurity policies and programs.

Ms. Plunkett serves on the boards of CACI International, Nationwide Insurance and BlueVoyant. She is also is a founding member and Chairman of the Board of Defending Digital Campaigns, a non-profit entity focused on providing free or low-cost cybersecurity services to federal election campaigns.

Mercury envisions, creates and delivers innovative technology solutions purpose-built to meet their customers’ most pressing high-tech needs. For additional information, visit mrcy.com, or contact Mercury at (866) 627-6951 or info@mrcy.com.

Mercury Systems – Innovation That Matters®
Mercury Systems is a global commercial technology company serving the aerospace and defense industry. Headquartered in Andover, Mass., the company delivers trusted, secure open architecture processing solutions powering a broad range of mission-critical applications in the most challenging and demanding environments. Inspired by its purpose of delivering Innovation that Matters, By and For People Who Matter, Mercury helps make the world a safer, more secure place for all. To learn more, visit mrcy.com, or follow us on Twitter.

Forward-Looking Safe Harbor Statement
This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the products and services described herein and to fiscal 2022 business performance and beyond and the Company’s plans for growth and improvement in profitability and cash flow. You can identify these statements by the use of the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, continued funding of defense programs, the timing and amounts of such funding, general economic and business conditions, including unforeseen weakness in the Company’s markets, effects of epidemics and pandemics such as COVID, effects of any U.S. federal government shutdown or extended continuing resolution, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, changes in, or in the U.S. Government’s interpretation of, federal export control or procurement rules and regulations, changes in, or in the interpretation or enforcement of environmental rules and regulations, market acceptance of the Company’s products, shortages in components, production delays or unanticipated expenses due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions, restructurings and value creation initiatives such as 1MPACT, or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, increases in interest rates, changes to industrial security and cybersecurity regulations and requirements, changes in tax rates or tax regulations, changes to interest rate swaps or other cash flow hedging arrangements, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, unanticipated costs under fixed-price service and system integration engagements, and various other factors beyond our control. These risks and uncertainties also include such additional risk factors as are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended July 2, 2021. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.

CONTACT
Robert McGrail, Director of Corporate Communications
Mercury Systems Inc.
+1 (978) 967-1366   |   robert.mcgrail@mrcy.com

Mercury Systems and Innovation That Matters are registered trademarks of Mercury Systems, Inc. Other product and company names mentioned may be trademarks and/or registered trademarks of their respective holders.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6bfebf63-40b5-4514-9e5b-81b684754645

FAQ

Who is Debora A. Plunkett and what role will she play at Mercury Systems?

Debora A. Plunkett is the former director of information assurance at the NSA and has been elected to Mercury's Board of Directors to enhance the company's cybersecurity focus.

What changes were made to the Mercury Systems Board of Directors?

Vincent Vitto retired as Chairman, and William K. O'Brien was appointed as the new Chairman, with Debora A. Plunkett joining the Board.

What is the significance of the new Board composition for Mercury Systems?

The current Board consists of nine members, eight of whom are independent directors, which reflects strong governance and potential for unbiased strategic insight.

How might the leadership changes impact Mercury Systems' business strategy?

The addition of Plunkett and the new leadership under O'Brien may lead to enhanced focus on cybersecurity and innovation within Mercury's mission-critical technology solutions.