SAIC parts ways with CEO Toni Townes-Whitley

Science Applications International Corp. has parted ways with Toni Townes-Whitley, the company's chief executive since October 2023.

The company’s board of directors has appointed Jim Reagan, a former Leidos chief financial officer and member of SAIC's board since January 2023, as interim CEO until a permanent successor is named.

Townes-Whitley's departure is effective immediately and was announced after the markets closed at 4 p.m. on Thursday.

“We thank Toni for her many contributions, dedication, and commitment to SAIC, our customers and our mission. We wish her the best in her next chapter,” said Donna Morea, chair of the SAIC board.

Reagan joined the SAIC board after his retirement from Leidos in 2021, where he was CFO for six years. He also was the CFO of Vencore, PAE and Vangent over his career.

During her two years as CEO, Townes-Whitley has focused on strengthening SAIC's portfolio and trying to increase revenue growth and profitability after years of lagging behind its peers.

One of her initial moves as CEO involved reorganizing the company into five groups, and investing in business development and capture management efforts.

The company now has lines of business around mission integration, mission IT, enterprise IT, engineering services and professional services. SAIC's customer mix is organized around civilian, defense, intelligence and space.

In SAIC's most recent quarterly report it released in September, the company lowered its fiscal 2026 revenue guidance to $ 7.25 billion-to-$7.325 billion from the prior $7.6 billion-to-$7.75 billion range. That signals expectations of a 2%-to-3% organic decline.