Chuck Prow, a former head of IBM‘s (NYSE: IBM) global government business and a 12-year Big Blue veteran, has joined Colorado Springs-based government services contractor Vectrus (NYSE: VEC) as CEO and board of directors member in a transition that took effect Tuesday.
Vectrus announced the transition in a Tuesday release and said Ken Hunzeker retired Monday from the company and the board.
Hunzeker led GovCon Index-listed Vectrus from its September 2014 inception, when the company spun off from former parent and defense technology manufacturer Exelis as a standalone government services business.
Prow joined government management consulting services contractor CPS Professional Services as president in August 2015 and held that role for one year, according to Vectrus’ regulatory filing.
He held the position of general manager for global government industry at IBM for one year prior to CPS and oversaw at least $9 billion in revenue at Big Blue.
Prow heads to Vectrus nearly one month after the company disclosed the U.S. Army‘s decision to seek revised bids on a recompeted contract for logistics services in Kuwait that is its largest program and was awarded Sept. 30 to a joint venture of KBR (NYSE: KBR) and Triple Canopy.
The Kuwait Base Operations and Security Support Services 2.0 program is Vectrus’ largest in its portfolio and contributed $323 million, or 36 percent of total revenue through nine months as of Sept. 30.
Vectrus expects the Government Accountability Office to complete a separate review of the Army’s Sept. 1 award of a $70.4 million modification on the branch’s Army Prepositioned Stock-5 contract in Kuwait and Qatar to AECOM‘s (NYSE: ACM) URS Federal Services business.
Vectrus reported $134 million in revenue from APS-5 for the year’s first three quarters at 15 percent of total sales.
Shares in Vectrus have traded down 30 percent since Aug. 31 and the company expects to record $1.19 billion-$1.2 billion this year.
