The growth and transformation of Leidos

^{Photos: Jay Townsend. Illustration: Chris Gash}

Leidos Chairman and CEO Roger Krone will retire next week after leading the company on a nearly nine-year journey of transformation and growth.

It’s been a great run for the family man and pilot from Cincinnati who came to Leidos from The Boeing Company in 2014.

Since then, Leidos has become one of the largest government contractors in the federal market, expanded its capabilities and transformed its culture.

Under Krone’s watch, the company more than doubled in size¹ while maintaining a focus on ethical behavior. Last month, Leidos was recognized by the Ethisphere Institute as one of the World's Most Ethical Companies for the sixth year in a row.

His tenure featured growth through major, transformational acquisitions:

• In 2016, Leidos merged with Lockheed Martin’s Information Systems & Global Solutions business in an aggregate transaction value of approximately $4.6 billion, making Leidos one of the world’s largest government IT providers.
• In 2019, Leidos acquired Dynetics, an industry-leading applied research and national security solutions company, for $1.65 billion.
• In 2020, Leidos acquired L3Harris Technologies’ Security Detection and Automation business for approximately $1 billion.
• In 2021, Leidos acquired IT, cloud and cyber firm 1901 Group and naval architecture and marine engineering firm Gibbs & Cox.
• In 2022, Leidos acquired Cobham Aviation Services Australia’s Special Mission business, a provider of airborne border surveillance and search and rescue services to the Australian Federal Government.

As well as large, competitive contract wins:

• In 2015, the U.K Ministry of Defence (MOD) awarded Leidos its Logistics Commodities & Services Transformation (LCST) contract worth up to £6.5 billion.
• In 2019, the U.S. Defense Information Systems Agency (DISA) awarded Leidos its Global Solutions Management – Operations (GSM-O) II contract worth up to $6.5 billion.
• In 2020, the U.S. Space and Naval Warfare Systems Command (SPAWAR) awarded Leidos its Next Generation Enterprise Network Services Management (NGEN) re-compete contract worth up to $7.7 billion.
• In 2021, DISA awarded Leidos a spot on its Solutions for the Information Technology Enterprise III  (SITE III) contract worth up to $12.6 billion.
• In 2022, DISA awarded Leidos its Defense Enclave Services (DES) contract worth up to $11.5 billion.

All told, Krone oversaw revenue growth from $5.1 billion to $14.4 billion² and workforce growth from approximately 19,000 employees at the beginning of 2015 to more than 45,000 by the end of 2022, a testament to his leadership and vision.

Within the company, Krone placed a strong emphasis on culture, including diversity, equity and inclusion. In 2020, he signed the CEO Action for Diversity & Inclusion pledge, committing Leidos to promote a more diverse and inclusive workplace. He also launched initiatives to address opioid addiction and championed the cause to help end the stigma associated with mental health challenges.

Under Krone’s leadership, Leidos earned recognition from several leading publications:

• Fortune recognized Leidos as one of the World’s Most Admired Companies.
• Forbes recognized Leidos as one of America’s Best Employers for Diversity, one of the World’s Top Female-Friendly Companies and one of America’s Best Employers for Veterans.
• Newsweek recognized Leidos as one of America’s Most Responsible Companies and one of America’s Greatest Workplaces for Diversity.
• Careers & The Disabled recognized Leidos as a Top 50 Employer for the Disabled.
• The Wall Street Journal and Drucker Institute recognized Leidos as one of the best-managed companies in the United States.

Krone managed Leidos through the COVID-19 pandemic, caring for its employees amidst unprecedented challenges. In 2021, he earned the COVID-19 Response Leader Award from Washington Business Journal.

Krone will turn over the reins to incoming CEO Thomas Bell next week.

“It’s been an honor and a privilege to lead this remarkable organization,” Krone wrote to company employees. “The dedication, innovation and commitment to excellence of this exceptional team were the driving forces behind our success, and I’m grateful for the opportunity to have played my part.”

Please contact the Leidos media relations team for more information.

Related:

• Leidos CEO Roger Krone looks back on a stellar career, and reflects on what he has learned

¹_{By employee count and revenues between the fiscal years ended January 30, 2015, and December 30, 2022.}
² _{For the fiscal years ended January 30, 2015, and December 20, 2022, respectively.}