Mercury Systems, Inc. announced that following a comprehensive review of strategic alternatives, the Board of Directors of the company has determined that enhanced execution of the company’s strategic plan under a refreshed leadership team represents the best path forward to drive value creation for all stakeholders at this time. In connection with this determination, the Company also announced a series of leadership and Board changes. Bill Ballhaus, a member of the Board, has been appointed Interim President, effective June 24, 2023, and will serve in this role until a permanent successor is named.

Mr. Ballhaus succeeds Mark Aslett, who has resigned from his role as President. His resignation is effective June 24, 2023. Mr. Ballhaus has significant experience in the aerospace, defense and technology industries, including multiple CEO roles.

He previously served as Chairman and CEO of Blackboard, Inc. from 2016 until its merger with Anthology in 2021. Prior to that, he served as CEO and President of SRA International, Inc. from 2011 until the creation of CSRA Inc. from SRA and CSC’s U.S. public sector business. Before that, Mr. Ballhaus served as CEO and President of government contractor DynCorp International from 2008 to 2010.

Mr. Ballhaus has also held senior leadership positions at BAE Systems, Boeing and Hughes, where he led global government and commercial technology businesses particularly focused on software and IT. Mr. Ballhaus currently serves on several private company boards, including as Executive Chairman at Catalis, Executive Chairman at Elite and on the Board of Directors of Qmulos. He is also a senior advisor at PSG and a Fellow of the American Institute of Aeronautics and Astronautics.

Mr. Ballhaus joined the Board in 2022 in connection with the cooperation agreements with JANA Partners LLC and Starboard Value LP. Mr. Ballhaus holds a Bachelor’s degree in Mechanical Engineering from the University of California, Davis and Master’s and Doctorate degrees in Aeronautics and Astronautics from Stanford University. He also earned a Master’s degree in Business Administration from the Anderson Graduate School of Management at UCLA.

The company appointed a highly qualified independent director, Gerard (Jerry) DeMuro, Co-CEO of Eve Air Mobility, to the Board, effective June 24, 2023. In addition, the company plans to appoint a second highly qualified candidate, the former CEO of an aerospace defense contractor, to the Board as an independent director, pending customary onboarding formalities. Mercury intends to announce the appointment as soon as possible.

Following the appointment of both new directors and present removal of Mr. Aslett, the Board will expand to comprise 10 directors, four of whom will have been added to the Board in the last year. Mr. O’Brien, who had previously informed the Board of his interest in retiring at the end of his term, has provided formal notice that he will not stand for re-election at the 2023 Annual Meeting of Shareholders. Mr. DeMuro currently serves as Co-CEO of Eve Air Mobility.

From 2014 to 2020, Mr. DeMuro served as President and CEO of BAE Systems, Inc. From 1999 to 2013, he held several roles of increasing responsibility at General Dynamics including Executive Vice President and Corporate Vice President of Information Systems & Technology. Earlier in his career, Mr. DeMuro held roles at GTE Corporation (now part of Verizon Communications) and the U.S. Department of Defense. Mr. DeMuro previously served on the Board of Directors of BAE Systems plc, BAE Systems, Inc. and Zanite.

Mr. DeMuro holds a Bachelor of Arts degree from the University of Pittsburgh and a Master’s of Business Administration from Fairleigh Dickinson University.