Solution provider giant Leidos generated revenue of $14.4 billion in its last fiscal year and rewarded its top five executives more than $24 million in combined total compensation.
The most highly compensated executive, Chairman and CEO Roger Krone, reported more than $13 million in total compensation, mostly in the form of stock awards, according to a proxy filing from March.
Krone retired in May and the company named Tom Bell, a veteran executive at both Rolls Royce and Boeing, as its new CEO.
Bell assumed the role on May 3 but was selected by the company’s board of directors in February to succeed Krone. Krone has been CEO since 2014 and will stay on through July in an advisory role.
According to a regulatory filing, Bell will be paid $1.25 million every year plus equity awards with an initial value of $4.5 million, consisting of 50 percent performance share awards, 30 percent performance restricted stock units, and 20 percent nonqualified stock options.
Leidos declined to comment when reached by CRN.
Prior to joining Reston, Va.-based solutions provider Leidos, Bell held roles at both Rolls Royce and Boeing, most recently as the president of defense and chairman and CEO at Rolls-Royce North America since 2018. Prior to that he held multiple leadership roles at Boeing for 24 years such as senior vice president of global sales and marketing, lead for strategy, defense and spacelead and vice president of business development for Boeing’s logistic support systems, according to his LinkedIn.
Leidos, which has 45,000 full and part-time employees, saw a 5 percent revenue increase from the prior year. The company’s stock is down 23 percent over the past 12 months to $79.96 as of Friday.
Here are the five most highly compensated executives at Leidos.
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CJ Fairfield is an associate editor at CRN covering solution providers, MSPs and distributors. Prior to joining CRN, she worked at daily newspapers, including The Press of Atlantic City in New Jersey and The Frederick News-Post in Maryland. She can be reached at [email protected].
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