Leonardo DRS CEO to retire; successor named

William J. “Bill” Lynn III will retire as chairman and CEO of Arlington defense contractor Leonardo DRS at the end of the year, with Chief Operating Officer John Baylouny named as his successor, set to lead the company as its president and CEO, the company announced Wednesday.

Also, longtime board member Frances Fragos Townsend will become chair of the company’s board of directors. All changes will be effective Jan. 1, 2026.

Lynn has led Leonardo DRS since 2012. It went public in 2022 after the completion of an all-stock merger with Israel-based radar company Rada Electronic Industries. Leonardo DRS’ parent company is Italian defense contractor Leonardo SpA, which retains 80.5% ownership of the corporation.

Lynn served as deputy secretary of defense during President Barack Obama’s first term, as comptroller of the Department of Defense from 1997 to 2001, and as counsel for U.S. Sen. Ted Kennedy on the Senate Armed Services Committee from 1987 to 1993. He also worked as senior vice president of government operations and strategy for Raytheon.

“It has been a profound honor to lead this company and work alongside such a talented and committed team, united in our mission to support the men and women of our armed forces. I am confident that this exceptional company will continue to play a vital role in shaping the future of our national defense,” Lynn said in a statement. “I have a longstanding relationship with John built on deep respect for his invaluable contributions in enabling the success of the company. He has a strong track record and reputation for driving innovation and execution excellence with an emphasis on meeting and exceeding the needs of our customers.”

Baylouny became COO in 2018 and previously served as Leonardo DRS’s chief technology officer and general manager of the company’s land systems and advanced ISR businesses. Baylouny earned an electrical engineering master’s degree at Stevens Institute of Technology.

Townsend has served on Leonardo’s board since 2009 and is currently its lead independent director. She has worked in the public and private sectors, serving as assistant to President George W. Bush for homeland security and counterterrorism, and held leadership positions at Activision Blizzard and MacAndrews & Forbes.

In 2024, Leonardo DRS reported $3.2 billion in revenue, up from $2.8 billion in 2023. In October 2024, the company received a U.S. Navy contract valued up to $235 million to manufacture, inspect and test AN/SPS-9B radars.

Lynn has a bachelor’s degree from Dartmouth, a master’s degree from Princeton and a law degree from Cornell Law School. He serves on the boards of Accenture Federal Services, the USO Foundation, the Atlantic Council, the Center for a New American Security, and National Cathedral School.