Leidos Announces Chief Financial Officer Succession

Mark Sopp to Depart as CFO Following Transition Period, Search for Successor Ongoing

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Jan 28, 2015, 05:30 ET

RESTON, Va., Jan. 28, 2015 /PRNewswire/ -- Leidos Holdings, Inc. (NYSE: LDOS) announced today that Chief Financial Officer Mark Sopp intends to retire from his position later this year, once an orderly transition has occurred, to pursue more time with family and other personal goals.

Sopp, CFO since 2005, and will continue in his current capacity until a replacement is found, and following that will be available in an advisory role to assist in the transition and other needs that may arise. The company will conduct a thorough and thoughtful search for a successor.

"I'm proud to have worked closely with Mark and thank him for all of the outstanding work he has done for Leidos," said Chief Executive Officer Roger Krone. "The company has a strong future, thanks in part to Mark's dedication over the last ten years. I look forward to continuing to work with him as he supports our efforts in his new advisory role."

"It has been an honor and a privilege to work with people who are diligently committed to our customers and the nation," said Sopp. "We have accomplished a great deal together, particularly over the last few years of immense change, and I am confident the strategy we have established will continue the great legacy of this company."

Sopp came to Leidos (formerly SAIC) in 2005 and led the company's initial public offering in 2006. He also led the finance efforts of the company's separation into two publicly traded companies in 2013. Sopp joined Leidos after more than 18 years of financial industry leadership.

About Leidos
Leidos is a FORTUNE 500^® science and technology solutions leader working to address some of the world's toughest challenges in national security, health and engineering. The Company's 20,000 employees support vital missions for our government and the commercial sector, develop innovative solutions to drive better outcomes and defend our Nation's digital and physical infrastructure from 'new world' threats. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $5.77 billion for its fiscal year ended January 31, 2014 after giving effect to the spin-off of the company's technical services and information technology business. 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 January 31, 2014, 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.

CONTACTS

Media Relations:

Melissa Koskovich
(571) 526-6850
[email protected]

Investor Relations:

Kelly Hernandez
(571) 526-6404
[email protected]

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SOURCE Leidos