ICF International executives to take 20% pay cuts amid government shutdown

Reston-based government contractor ICF International announced last week that its top executives will take pay cuts during the remainder of the federal government shutdown and revealed major changes to its leadership.

In an Oct. 30 filing with the Securities and Exchange Commission, the company said it has evaluated the impact of the shutdown. President and CEO John Wasson recommended a temporary 20% reduction to the annual base salaries for himself and four other top executives, for a duration matching the shutdown period. The move is intended to show support for affected federal employees and clients.

The board approved the reductions, and the four executive vice presidents agreed to them. The filing states that the reductions are being treated as a temporary pay cut, and ICF will not repay the lost wages from that time period after the shutdown ends.

Wasson’s salary will be reduced to $831,251. Meanwhile:

• Executive Vice President and Group Leader Anne Choate will have a temporary base salary of $428,000
• Executive Vice President and Chief Financial Officer Barry Broadus will have a temporary base salary of $411,840
• Executive Vice President and Chief Operating Officer James Morgan will have a temporary base salary of $527,925
• Executive Vice President Sergio Ostria will have a temporary base salary of $390,604

The salary cuts weren’t the only notable news from the filings. ICF also announced changes in executive roles. Most notably, effective Jan. 1, 2026, Choate will take over the role of president from Wasson, who will remain CEO. With her new role, her base salary will increase from $535,000 to $600,000.

Meanwhile, Broadus is retiring as CFO, and Morgan will assume both the roles of COO and CFO. Broadus will leave his position on March 1, but will then serve an additional month as a full-time senior advisor until April 1. Afterward, he will serve as part-time senior adviser until Jan. 31, 2027, or until he or the company decides to terminate the employment.

Also last week, the company reported a significant decline in revenues, much of it stemming from the federal government reducing or slowing the flow of money to existing contracts. A company news release said total revenue for the third quarter was $465.4 million, down from $517.0 million reported at the same time last year and $476.2 million in this year’s second quarter.

U.S. federal government revenue for Q3 was $198 million, down 29.8% from $282 million reported in 2024’s third quarter and down 3% from this year’s second quarter. The company attributed the year-over-year declines to contract funding curtailments and a slower pace of new requests for proposals. Specifically for October, ICF estimates it will lose $8 million in revenue due to the shutdown.

The company did not immediately return requests for comment.

Choate has been with ICF since 1995, rising through leadership roles focused on energy, climate and infrastructure. She led teams and business lines from 2004 to 2015 and became senior vice president in 2016, overseeing work in social programs, global health and federal work on energy and transportation. She was named group leader for energy, environment and infrastructure in 2020 and promoted to executive vice president in 2022.

Choate holds a master’s degree in environmental science from Johns Hopkins University and a bachelor’s in environmental science and policy from Duke University.

Founded in 1969, ICF has approximately 9,000 employees. During the past two decades, ICF has doubled in size every five years on average. It reported fiscal 2023 revenue of $1.96 billion, up 10% from the previous year.