Two noted industry executives announced plans to retire.
Jay Johnson, chairman and CEO of General Dynamics, will retire at the end of the year, while CACI CEO Paul Cofoni will step down from his role on July 1.
Johnson, 66, has served as the company’s CEO since mid-2009, and became chairman a year later. The company’s board has named Phebe Novakovic, who has served as president and COO since last month, to succeed Johnson in both roles beginning January 1. Novakovic previously served as executive vice president of General Dynamics Marine Systems group, as well as senior vice president for planning and development.
“The company is on an excellent financial footing, our operational performance is unmatched and our leadership team is very robust,” said Johnson. “This is the right time to transition.”
Cofoni, who has led the company since 2007, will then become chief advisor to Executive Chairman Jack London until his retirement on December 1. Daniel Allen, CACI’s current president of U.S. operations, will become the new president and CEO, while John Mengucci, current COO of the company’s U.S. operations, will become COO and president of U.S. operations.
Under Cofoni’s guidance, CACI grew from approximately 9,500 employees to its current 14,600, and has more than doubled its revenue since 2005.