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Tag: Fortune 500 company

Leidos awarded $197M CMS contract

Reston-based Fortune 500 contractor Leidos has won a new task order from the federal Centers for Medicare and Medicaid Services with an estimated total value of $197 million, the Reston-based Fortune 500 contractor announced Monday.

Under the hybrid firm-fixed-price, time and materials order, Leidos will provide IT support to the agency through its Office of Information Technology and the Infrastructure and User Support Group.

“We are delighted to extend our work with CMS in its transformative digital modernization journey, elevating the end-user experience to new heights,” Leidos Health Group President Liz Porter said in a statement. “With a steadfast commitment to innovation, Leidos is dedicated to delivering tailored solutions that align with the mission of CMS.”

In March, Leidos announced it received a prime contract and three subcontracts from CMS worth approximately $102 million. The prime contract was for OIT and IUSG support.

Leidos provides technology, engineering and science services to defense, intelligence, civil and health markets. The company employs 46,000 people and reported $14.4 billion in 2022 revenue. In May, Thomas Bell took over as the company’s CEO from Roger Krone, who led the company since 2014.

Virginia’s Fortune 500 companies

This year, 24 Virginia companies made the Fortune 500 list of the nation’s 500 largest publicly traded companies in the United States by total revenue.

The commonwealth had three more Fortune 500 companies in 2023 than last year, largely due to aerospace and defense contractors RTX (formerly Raytheon Technologies Corp.) and Boeing Co., which both moved their headquarters to Arlington County from out of state last year. This year, they debuted as Virginia’s second- and third-ranked Fortune 500 companies. Additionally, McLean-based global hotelier Hilton returned to the Fortune 500 this year after a two-year slump caused by the pandemic.

This year, 10 of the commonwealth’s Fortune 500 companies are based in Fairfax County, the Virginia locality with the most Fortune 500 companies. The metro Richmond region, including Hanover, Henrico and Goochland counties, has the second most, with five companies.

Notably, Goochland-based used vehicle retailer CarMax Inc. had the biggest rise in 2023, jumping 50 slots to No. 124. Henrico-based convenience store holding company Arko Corp., which debuted on the Fortune 500 last year, moved up almost 40 slots to No. 460.

The biggest slides were seen from Henrico-based insurance holding company Markel Group Inc., which dropped 63 slots to No. 352, and DXC Technology Co. in Ashburn, which dropped 48 slots to No. 255. 

 

ASRC Federal closes $350M purchase of SAIC logistics biz

The $350 million cash sale of Science Applications International Corp. (SAIC)’s logistics and supply chain management business to ASRC Federal Holding Company LLC is complete, the Reston-based companies announced Monday.

ASRC and Fortune 500 tech contractor SAIC first announced the deal in March. With the sale’s completion, 240 SAIC employees transitioned to ASRC Federal.

“We are excited to welcome this exceptional team with decades of experience providing innovative solutions to their customers. The rest of the ASRC Federal team is ready to support them in their important mission to equip our military personnel and help ensure our nation’s security,” ASRC Federal President and CEO Jennifer Felix said in a statement.

The Defense Logistics Agency, which provides services to Department of Defense agencies, including the Army, Air Force and Navy, uses the division’s logistics and supply chain solutions.

SAIC employs about 24,000 people and reported $7.4 billion in fiscal 2022 revenue.

ASRC Federal is a federal government services subsidiary of Arctic Slope Regional Corp., an Alaska Native corporation. Its family of companies provides engineering, IT, infrastructure and professional services support. ASRC Federal has about 8,000 employees and operations across 44 states, districts and territories.

SAIC hires SVP of Navy unit

Barbara Graham has been hired as senior vice president of Reston-based Fortune 500 federal contractor Science Applications International Corp.’s Navy business unit, SAIC announced Wednesday.

Graham, who started Tuesday, will oversee the $1 billion SAIC unit, which serves U.S. Navy and Marine Corps customers. She reports to Bob Genter, president of SAIC’s defense and civilian sector.

“Barbara is an exceptionally talented and experienced leader whose deep customer relationships and knowledge will drive results for our Navy and Marine Corps customers,” Genter said in a statement. “As a growth-minded leader, she will continue building our Navy business, drive organic growth, scale into key submarkets and focus on developing a new generation of talent and innovative capabilities.”

Graham previously served as vice president and general manager of GDIT’s Navy and Marine Corps sector for five months. Before that, she worked for CACI International Inc. for almost four years, ending her tenure there as a senior vice president. Prior to joining CACI, Graham held various roles with BAE Systems Inc., most recently as director of strategic capture.

Graham is a Navy veteran who holds a bachelor’s degree in management computer information systems from Park University.

SAIC employs approximately 26,000 people and reported $7.4 billion in fiscal year 2022 revenue.

Markel announces next CFO

Teri Gendron will succeed Jeremy Noble as Markel Corp.’s chief financial officer on March 20, the Glen Allen-based Fortune 500 insurance and investment firm announced Tuesday.

Noble became president of Markel’s insurance operations earlier this year. Gendron will oversee and manage the holding company’s financial operations across its three divisions: insurance, investments and Markel Ventures. She’ll be based in Markel’s Glen Allen headquarters and will report to Markel CEO Tom Gayner.

“The pool of finance leaders with experience supporting a group of businesses and investments as diverse as ours is somewhat limited, and to find someone who also shares our commitment to success, management style, sense of humor and other cultural values, well that’s priceless to us,” Gayner said in a statement.

Gendron was most recently CFO of New York-based investment bank and capital markets firm Jefferies Financial Group Inc. Prior to joining Jefferies, she was vice president and controller at Gannett Co. Inc. She previously served as vice president of finance and then vice president and controller of NII Holdings Inc., according to her LinkedIn. Gendron began her career at KPMG.

She holds an MBA from Georgetown University and a bachelor’s degree from the University of Virginia.

Markel has about 20,300 employees and reported $11.67 billion in 2022 operating revenue, down from $12.84 billion in 2021. Its total 2022 assets were $49.79 billion.

Northrop Grumman appoints global biz development officer

Stephen O’Bryan will become corporate vice president and global business development officer for Falls Church-based Fortune 500 aerospace and defense contractor Northrop Grumman Corp. on Feb. 6.

Northrop Grumman announced that the board of directors elected O’Bryan on Monday.

O’Bryan will lead business development organization and contribute to international growth. He succeeds David Perry, who is set to retire March 31. Perry will continue as corporate vice president to support the transition until his retirement.

O’Bryan will report to Kathy Warden, Northrop Grumman’s chair, CEO and president.

“Steve is a highly respected business leader, and with his experience and expertise, he’ll help further position and grow our business in key markets around the world,” Warden said in a statement.

O’Bryan comes from Boston Consulting Group, according to a Northrop Grumman news release. Previously, he served as executive director of GBD Defense Group. From 2018 to 2019, he served as senior vice president and chief global business development officer for L3Harris Technologies Inc. From 2004 to 2018, O’Bryan held various roles with Lockheed Martin Corp., including vice president of strategy and business development.

O’Bryan was an F/A-18 pilot in the U.S. Navy and is a graduate of the Navy Strike Fighter Tactics Instructor program, originally called the Navy Fighter Weapons School and more commonly known as Top Gun.

He holds a bachelor’s degree from Colgate University and an MBA from Southern Methodist University.

Defense contractor Northrop Grumman employs roughly 95,000 employees and reported $36.6 billion in 2022 revenue. The company ranked No. 399 on the Fortune Global 500 list in 2022.

DXC Technology receives takeover interest

Ashburn-based DXC Technology Co. has received takeover interest from at least one private equity firm and is working with advisers, Bloomberg reported Wednesday.

A company spokesperson declined to confirm details about the potential takeover to Virginia Business, saying DXC doesn’t “comment on market rumor and speculation.”

The company’s stock rose to $28.84 at 1:30 p.m. EST on the news Wednesday, up from a low of $27 at 10 a.m. that day. It dropped Thursday morning to $26.85. The company’s stock reached its highest point so far in 2022 on Feb. 8, when it was trading at $38.82.

DXC posted $16.265 billion in 2022 revenue, down 8.26% from 2021, when it reported $17.729 billion. That, in turn, was 9.44% less than the $19.577 billion DXC reported in 2020.

DXC CEO, President and Chairman Mike Salvino has told investors that the company has been going through a multiyear “transformation journey” to become better focused and more cost-effective. In earnings calls this year, the company said it missed some revenue goals after encountering unexpected costs and other disruptions associated with Russia’s invasion of Ukraine, which prompted DXC to withdraw business from Russia.

DXC rejected an unsolicited bid by Paris-based IT company Atos SE to buy the company early last year. Salvino added chairman to his title in May.