Dive Brief:
- CACI International, Inc. announced the retirement of its executive vice president and CFO Thomas Mutryn on Monday. Mutryn is retiring after being at the company’s financial helm for over 16 years.
- Mutryn’s successor, Jeffrey MacLauchlan was appointed as the new finance chief effective Nov. 1, according to the company announcement. Mutryn will continue on with his responsibilities as executive vice president until his retirement is finalized in January 2023.
- MacLauchlan, 63, joined the Reston, Va.-based company in May and has served as senior vice president of finance. In addition to his annual base salary, MacLauchlan is set to receive a long-term incentive grant of $2 million on Nov. 1, half in the form of restricted stock units and half in the form of performance restricted stock units, according to a SEC filing.
Dive Insight:
Prior to joining defense contractor CACI MacLauchlan had over 40 years of experience in the financial management space. He spent much of his career at Lockheed Martin where he held multiple leadership positions, according to the SEC filing.
He was also one of six founding partners of First Light Acquisition Group, a special purpose acquisition (SPAC) company focused on companies in the space, aerospace, cybersecurity, and power and energy arenas. Before that, he served as a consultant to multiple private and public companies, according to CACI’s Monday release.
The appointment comes just a few days after the company announced it was awarded a $174 million contract with the U.S. Navy Sealife Military Command to support fleet readiness. The latest fleet readiness contract is one of three multi-million dollar contracts the company closed in September, with the latest being a $55 million contract with the U.S. Army and the other a $123 million task order with the U.S. Navy, Marine Corps and Air Force, according to the company website.
Despite inflationary pressures building, the company reported fourth quarter revenues for the fiscal year 2022 increased by 5% year-over-year for the same period the year prior, according to their Aug. 10 release.
The U.S. Defense market is projected to grow to $629.9 billion by 2030, according to data from Mordor Intelligence.
