SAIC Announces Appointment of Two New Board Members

Rhea-AI Summary

Science Applications International Corp. (SAIC) has appointed Carolyn Handlon and James C. Reagan to its board of directors, expanding the board to 13 members, with nearly two-thirds being women and people of color. Handlon, a former Executive VP at Marriott, will join the Audit and Nominating Committees, while Reagan, ex-CFO of Leidos, will serve on the Audit and Human Resources Committees. The board chair emphasized their integrity and leadership capabilities, which are expected to enhance SAIC's commitment to sustainable growth for customers and shareholders.

Positive

• Board expansion with experienced leaders enhances governance.
• Increased diversity with nearly two-thirds of the board being women and people of color.
• Handlon and Reagan's expertise in finance and corporate governance could strengthen long-term growth efforts.

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• None.

RESTON, Va.--(BUSINESS WIRE)-- Science Applications International Corp. (NYSE: SAIC) announced today the appointment of Carolyn Handlon and James C. Reagan, CPA, to the company’s board of directors. These appointments bring the board’s total membership to 13, with nearly two-thirds of the board comprised of women and people of color.

“We are pleased to welcome both Carolyn Handlon and James Reagan to SAIC’s board of directors,” said Donna Morea, SAIC board chair. “Both of these highly accomplished leaders are known not only for their stellar technical abilities in their fields, but also importantly, for their personal integrity and values. Their unique abilities will support SAIC’s unwavering commitment to delivering for our customers, employees and shareholders through the company’s transformational, sustainable, long-term growth efforts.”

Handlon will serve on the board’s Audit Committee as well as the Nominating and Corporate Governance Committee. Reagan will serve on the board’s Audit Committee as well as the Human Resources and Compensation Committee.

Prior to her retirement in April of 2022, Ms. Handlon served as the Executive Vice President, Finance and Treasurer, of Marriott International, Inc. (Nasdaq: MAR) since July 1999 with over 35 years of leadership experience with the company including oversight of global investments and capital markets for Marriott. Prior to joining Marriott, Ms. Handlon worked for the Overseas Private Investment Corporation and for the Continental Illinois National Bank and Trust. She currently serves on the Board of Directors for Invesco Mortgage Capital.

Reagan has an extensive background as a senior finance executive with both private and publicly held companies in the defense and government services industries. Most recently, Mr. Reagan served as Executive Vice President and Chief Financial Officer of Leidos Holdings, Inc. from July 2015 until his retirement in July 2021.

About SAIC

SAIC^® is a premier Fortune 500® technology integrator driving our nation’s technology transformation. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective and efficient solutions that are critical to achieving our customers' missions.

We are approximately 26,000 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion, which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.4 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.

Forward-Looking Statements

Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230110005242/en/

Thais Hanson

703.676.8215 | thais.c.hanson@saic.com

Source: Science Applications International Corp.

FAQ

What is the significance of the new appointments at SAIC?

The appointments of Carolyn Handlon and James C. Reagan to SAIC's board strengthen governance and bring extensive financial and leadership experience, which may enhance the company's strategic direction.

When were Carolyn Handlon and James C. Reagan appointed to SAIC's board?

Carolyn Handlon and James C. Reagan were appointed to SAIC's board on January 10, 2023.

What committees will Handlon and Reagan serve on at SAIC?

Carolyn Handlon will serve on the Audit Committee and the Nominating and Corporate Governance Committee, while James C. Reagan will be on the Audit Committee and the Human Resources and Compensation Committee.

How many members are on SAIC's board after the new appointments?

After the appointments of Handlon and Reagan, SAIC's board has a total of 13 members.

How does SAIC's board composition reflect diversity?

Nearly two-thirds of SAIC's board consists of women and people of color, showcasing a commitment to diversity and inclusion.