- Strong signs for push-out forces
- After only about a year on the job
- Laud and thanks for Clark
- Paul Dillahay to take over
(management-change.com) — Reston, Virginia, October 31, 2016 — Brian Clark, chief executive of NCI, leaves. It is an abrupt change. As announced by NCI, Inc. in a news release on Monday, October 31, 2016, Brian J. Clark leaves the post as chief executive officer at the provider of services to U.S. defense, intelligence, health and civilian government agencies in a surprising move after only about a year on the job, effective immediately.
No company wants a CEO to flame out in the first year.
Clark’s duties are taken over by Paul A. Dillahay, most recently executive vice president at CACI International’s Health and Litigation Solutions group.
The fact that Clark’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“To pursue other opportunities”
Clark’s sudden departure is explained as follows. NCI said: Clark “resigned as president and chief executive officer and a director of NCI, to pursue other opportunities”.
The phrase “to pursue other opportunities” is often used in corporate announcements and opens the door to speculation.
Precise information about the future plans of Clark was not immediately available.
Share price decline
The change follows a decline in the share price of NCI, Inc. since November 2015.
Chaired by Charles Narang
NCI, Inc. is chaired by Charles Narang.
Charles K. Narang founded NCI’s predecessor and wholly owned subsidiary, NCI Information Systems, Inc., in 1989, and currently serves as chairman of the board. Narang served as chairman and chief executive officer of NCI from the company’s beginning until October 1, 2015.
On the job as CEO since 2015
Brian J. Clark, president and chief executive officer of NCI, brought more than 15 years of executive-level experience within the government IT services sector.
He was responsible for development and execution of NCI’s growth strategy, including strategic transactions; investor relations; and oversight of all company operations.
Clark assumed the role of CEO on October 1, 2015, after having served as president since January 2012.
Prior to this, he served as executive vice president, chief financial officer and treasurer of NCI from April through December 2011, overseeing all aspects of the company’s financial operations, investor relations, and commercial and investment banking relationships.
Before joining NCI, Clark was the executive vice president, chief financial officer and treasurer for Stanley, Inc., which was acquired by CGI Group in September 2010.
While at Stanley, Clark led equity and debt financings, including the company’s initial public offering in 2006 to support organic growth, as well as several successful acquisitions.
Additionally, he was responsible for leading reorganizations aimed at streamlining operations to facilitate revenue and margin growth.
Before Stanley, Clark was the vice president, corporate controller and principal accounting officer for Titan Corporation.
While there, he was involved in all strategic transactions and managed the company’s merger and acquisition programs, as well as divestitures, equity joint ventures and commercial contracts.
Clark has an outstanding reputation in the capital markets and for growing businesses both organically and through acquisitions.
During his five-year tenure at Stanley, the company’s annualized revenues grew from $282 million to more than $900 million, and while at Titan, the company’s revenues doubled from $1.1 billion to $2.2 billion.
Before Titan, Clark was a senior manager of Assurance and Business Advisory Services for Arthur Andersen LLP, where he participated in three initial public offerings and the completion of more than 25 merger and acquisition transactions, as well as advised companies on financial risk management and technical accounting matters.
Clark holds a BS in accounting from Virginia Polytechnic Institute and State University and is a certified public accountant.
Strong signs for push-out forces
It is not completely certain what forces eventually triggered Brian J. Clark’s move.
The Push-out Score™ determined by management-change.com suggests strong signs for push-out forces that may have contributed to the management change.
Read the full story in the management-change.com report 41.2016 ($).