FALLS CHURCH, Va. (August 20, 2010) – DynCorpInternational (DI) today announced that Steve Gaffney will becomethe company’s chief executive officer and president effectiveAugust 25, 2010, the date that current CEO and president, BillBallhaus, has announced that he will resign. Mr. Ballhaus,who joined the company in May 2008, will continue to serve on thecompany’s Board of Directors as vice chairman and has accepted aposition as a strategic advisor to DI’s new parent, CerberusCapital Management L.P.
“Over the past two years the DI team has accomplished greatthings: we redefined our core values, strengthened our leadershipprograms, entered new business sectors and expanded our globalfootprint,” said Mr. Ballhaus. “The company is now in a position ofstrength and, while I am stepping down from my day-to-day role, Ilook forward to remaining actively engaged in DI’s future throughmy involvement on the Board and as a senior advisor to itsowners.”
Mr. Gaffney, who already serves as chairman of DI’s Board ofDirectors and will operate out of the company’s Falls Churchheadquarters, joins DI from IAP Worldwide Services, Inc. (IAP),where he has served as CEO since January 2009.
“Bill and I have worked closely together over the past severalmonths, discussing the company’s operations, management andfuture. I look forward to continuing to work with Bill in hisrole as a key strategic advisor and on the company’s Board,” saidMr. Gaffney. “He deserves a great deal of credit for expanding thecompany’s global footprint and establishing a solid foundation ofcorporate goals and core values that will guide the company’sfuture success.”
Mr. Gaffney has more than 25 years of leadership experience in thedefense industry. In addition to his experience with IAP, he servedas senior vice president of ITT Corporation and president of ITTDefense Electronics and Services. Mr. Gaffney was responsible forestablishing ITT’s strategic direction as well as financial andoperating performances. Under his leadership, the company grew morethan 60 percent as Mr. Gaffney executed both organic andacquisition strategies. He also had responsibility for driving LeanSix Sigma and Operational Excellence across all of ITT.
Early in his career, Mr. Gaffney led business segments at LittonIndustries, AlliedSignal and Smith Industries. He earned aBachelor of Electrical Engineering degree from Lafayette College inEaston, Pennsylvania, and is certified as a Lean Six Sigma Championand Green Belt.
About DynCorp International
DynCorp International is a global government services provider insupport of U.S. national security and foreign policy objectives,delivering support solutions for defense, diplomacy, andinternational development. DI operates major programs in logistics,platform support, contingency operations, and training andmentoring to reinforce security, community stability, and the ruleof law. DynCorp International is headquartered in Falls Church, Va.For more information, visit www.dyn-intl.com.