LMI CEO transitions to chairman

Doug Wagoner, who transitioned LMI to a for-profit government contracting and consulting firm with private equity backing, plans to retire as CEO at the end of the year and will transition to chairman of the Tysons-base company’s board.

LMI’s president of markets, growth and technology, Josh Wilson, will succeed Wagoner as CEO on Jan. 1, according to an Oct. 2 company announcement. A former U.S. Army officer who served two tours in Iraq working on infrastructure reconstruction, Wilson joined LMI in 2014 as a program manager. He later became executive vice president of service lines and technology. During his LMI tenure, Wilson has managed the company’s customer portfolio, growth strategy and research and development.

“I know Josh will lead LMI’s next chapter with clarity, purpose, and vision, and I’m glad I’ll continue to have a ringside seat and be able to collaborate with this fantastic team,” Wagoner said in the announcement.

Chartered under the Kennedy administration in 1961, LMI was originally formed to support logistics management for the Department of Defense. Previously a sector president at Reston-based Fortune 500 company Science Applications International Corp. (SAIC), Wagoner joined LMI as its president and CEO in 2020, and he oversaw the 2022 sale of LMI’s for-profit subsidiary to investment firms Declaration Partners, Capitol Meridian Partners and 22 C Capital. The for-profit subsidiary retained the LMI name and the remaining nonprofit entity was rebranded as NobleReach Foundation.

Wagoner went on to lead the new LMI through strategic deals, including the acquisition of Colorado-based space defense tech firm Synaptech in 2022.

In 2020, LMI’s revenue was $397 million, according to news reports. According to the Oct. 2 release, under Wagoner’s leadership, LMI has seen a 74% increase in revenue over the last five years and 40% workforce growth.

“Doug has guided LMI through an important period of expansion and change, strengthening the company and positioning it to make even greater impact,” Adam Palmer, a LMI board member and founding partner at Capitol Meridian Partners, said in a statement. “The board looks forward to his continued leadership as chairman. With Josh stepping in as CEO, LMI is well-positioned to build on its growth with a leader who knows the company’s strengths and brings both vision and a deep understanding of our customers’ needs.”

Wagoner and Wilson will work together through the remainder of the year. Moving forward, LMI plans to focus on accelerating innovation for federal missions, advancing its portfolio of commercial-grade technology platforms and building relationships across defense, civilian and space markets.