netrashetty
Netra Shetty
Alliant Techsystems Inc., most commonly known by its ticker symbol, NYSE: ATK, is one of the largest aerospace and defense companies in the United States with more than 18,000 employees in 22 states, Puerto Rico and internationally, and 2010 revenues in excess of an estimated US$4.8 billion.[3] The company headquarters is located in Minneapolis, Minnesota.
Utah native Mark DeYoung was promoted Thursday to the presidency of Alliant Techsystems, two days after the aerospace company's future prospects were threatened by President Obama's proposal to cut a space program important to its Box Elder County operations.with ATK and its predecessor companies, serving most recently as president of the firm's Clearfield-based Armament Systems division, which provides small-caliber ammunition to military forces such as the Afghan army.
"I am honored to become ATK's CEO," he said in a news release. "Our company is already a leading force in aerospace, defense and commercial markets. We will build and expand on that success."
This past year, however, expansion has not been buzzword linked most prominently to ATK's presence in Utah.
The end of government contracts for space shuttle and Minuteman III rocket motors prompted the company to lay off 550 employees in October -- including 400 at its Promontory facility west of Brigham City and 130 at its Magna plant. Two months later, ATK said the demise of those programs would result in 800 employees losing their jobs, cuts being made now.
And on Tuesday, Obama released a budget proposal that would end the need for ATK to produce Ares rocket motors that would propel new space vehicles on manned moon missions. Utah Rep. Rob Bishop said the cut could cost 2,000 ATK jobs in Utah, 7,000 nationwide.
In announcing
DeYoung's promotion, ATK cited his success in growing Armament Division revenues from $600 million in 2003 to an estimated $2.1 billion this fiscal year.
"His lean manufacturing initiatives and modernization efforts yielded continued margin improvements within Armaments Systems. Through aggressive acquisition and organic growth into adjacent markets, Armament Systems expanded into commercial ammunition, the tactical accessories market and international markets for non-standard and medium-caliber gun systems," the company said.
DeYoung succeeds John Shroyer, ATK's chief financial officer who had served as interim chief executive since last Nov. 11, when chairman and CEO Daniel Murphy announced his retirement after six years on the job.
Ron Fogleman, ATK's board chairman and a retired Air Force general, said DeYoung emerged from a search of internal and external candidates as "the most qualified to lead the company. His breadth of experience across ATK's core businesses, his strategic vision, results-driven leadership style and focus on delivering long-term shareholder value will position our company for continued success."
DeYoung's ATK career began in 1985 as a financial analyst at what was then Hercules Aerospace Co. in Magna. In 1996, he moved to Radford, Va. to be financial manager of ATK's propellant manufacturing facility. The following year DeYoung became director of business operations for ATK Missile Systems in Rocket Center, W.Va.
He became president of the newly formed Ammunition Division in 1999.
Alliant Techsystems on February 4 announced that its board of directors has unanimously voted to appoint Mark DeYoung as the company's new president and chief executive officer, effective immediately. DeYoung was also elected to serve on the company's board of directors.
DeYoung previously led ATK's Armament Systems group as president of the company's largest business entity. In this capacity, he led the group's expansion from approximately $600 million of revenue in Fiscal Year 2003, to a projected $2.1 billion in revenue in Fiscal Year 2010. His lean manufacturing initiatives and modernization efforts yielded continued margin improvements within Armament Systems. Through aggressive acquisition and organic growth into adjacent markets, Armament Systems expanded into commercial ammunition, the tactical accessories market, and international markets for non-standard ammunition and medium-caliber gun systems.
DeYoung is 51 years old and a 25-year veteran of ATK and its predecessor companies. His years of experience at ATK source from key company businesses in advanced engineering and propulsion systems. He began his career with the Hercules Aerospace Company, which was acquired by ATK in 1995. In 1999, he was named president of ATK's Lake City Ammunition business and subsequently assumed leadership for the company's commercial ammunition business, acquired in 2001. He holds a bachelor's degree in business from Weber State University, Ogden, Utah, and an MBA from Westminster College in Salt Lake City.
"The board of directors reviewed a select group of outstanding and highly qualified internal and external candidates," said General Ron Fogleman, chairman of the board. "Mark emerged as the most qualified to lead the company. His breadth of experience across ATK's core businesses, his strategic vision, results-driven leadership style, and focus on delivering long-term shareholder value will position our company for continued success in the years to come."
"I am honored to become ATK's CEO. Our company is already a leading force in aerospace, defense, and commercial markets. We will build and expand on that success," said DeYoung. "We have an outstanding, dedicated workforce that consistently delivers our company's unique and extremely competitive brand of affordable innovation. We will continue to focus on performance and execution, expanding into new markets and delivering on our programs of record, while strengthening both top-line and bottom-line results. ATK is a company making a difference and I look forward to helping make a great company become even better."
ATK is a premier aerospace and defense company with more than 18,000 employees in 22 states, Puerto Rico and internationally, and revenues of approximately $4.8 billion.
Utah native Mark DeYoung was promoted Thursday to the presidency of Alliant Techsystems, two days after the aerospace company's future prospects were threatened by President Obama's proposal to cut a space program important to its Box Elder County operations.with ATK and its predecessor companies, serving most recently as president of the firm's Clearfield-based Armament Systems division, which provides small-caliber ammunition to military forces such as the Afghan army.
"I am honored to become ATK's CEO," he said in a news release. "Our company is already a leading force in aerospace, defense and commercial markets. We will build and expand on that success."
This past year, however, expansion has not been buzzword linked most prominently to ATK's presence in Utah.
The end of government contracts for space shuttle and Minuteman III rocket motors prompted the company to lay off 550 employees in October -- including 400 at its Promontory facility west of Brigham City and 130 at its Magna plant. Two months later, ATK said the demise of those programs would result in 800 employees losing their jobs, cuts being made now.
And on Tuesday, Obama released a budget proposal that would end the need for ATK to produce Ares rocket motors that would propel new space vehicles on manned moon missions. Utah Rep. Rob Bishop said the cut could cost 2,000 ATK jobs in Utah, 7,000 nationwide.
In announcing
DeYoung's promotion, ATK cited his success in growing Armament Division revenues from $600 million in 2003 to an estimated $2.1 billion this fiscal year.
"His lean manufacturing initiatives and modernization efforts yielded continued margin improvements within Armaments Systems. Through aggressive acquisition and organic growth into adjacent markets, Armament Systems expanded into commercial ammunition, the tactical accessories market and international markets for non-standard and medium-caliber gun systems," the company said.
DeYoung succeeds John Shroyer, ATK's chief financial officer who had served as interim chief executive since last Nov. 11, when chairman and CEO Daniel Murphy announced his retirement after six years on the job.
Ron Fogleman, ATK's board chairman and a retired Air Force general, said DeYoung emerged from a search of internal and external candidates as "the most qualified to lead the company. His breadth of experience across ATK's core businesses, his strategic vision, results-driven leadership style and focus on delivering long-term shareholder value will position our company for continued success."
DeYoung's ATK career began in 1985 as a financial analyst at what was then Hercules Aerospace Co. in Magna. In 1996, he moved to Radford, Va. to be financial manager of ATK's propellant manufacturing facility. The following year DeYoung became director of business operations for ATK Missile Systems in Rocket Center, W.Va.
He became president of the newly formed Ammunition Division in 1999.
Alliant Techsystems on February 4 announced that its board of directors has unanimously voted to appoint Mark DeYoung as the company's new president and chief executive officer, effective immediately. DeYoung was also elected to serve on the company's board of directors.
DeYoung previously led ATK's Armament Systems group as president of the company's largest business entity. In this capacity, he led the group's expansion from approximately $600 million of revenue in Fiscal Year 2003, to a projected $2.1 billion in revenue in Fiscal Year 2010. His lean manufacturing initiatives and modernization efforts yielded continued margin improvements within Armament Systems. Through aggressive acquisition and organic growth into adjacent markets, Armament Systems expanded into commercial ammunition, the tactical accessories market, and international markets for non-standard ammunition and medium-caliber gun systems.
DeYoung is 51 years old and a 25-year veteran of ATK and its predecessor companies. His years of experience at ATK source from key company businesses in advanced engineering and propulsion systems. He began his career with the Hercules Aerospace Company, which was acquired by ATK in 1995. In 1999, he was named president of ATK's Lake City Ammunition business and subsequently assumed leadership for the company's commercial ammunition business, acquired in 2001. He holds a bachelor's degree in business from Weber State University, Ogden, Utah, and an MBA from Westminster College in Salt Lake City.
"The board of directors reviewed a select group of outstanding and highly qualified internal and external candidates," said General Ron Fogleman, chairman of the board. "Mark emerged as the most qualified to lead the company. His breadth of experience across ATK's core businesses, his strategic vision, results-driven leadership style, and focus on delivering long-term shareholder value will position our company for continued success in the years to come."
"I am honored to become ATK's CEO. Our company is already a leading force in aerospace, defense, and commercial markets. We will build and expand on that success," said DeYoung. "We have an outstanding, dedicated workforce that consistently delivers our company's unique and extremely competitive brand of affordable innovation. We will continue to focus on performance and execution, expanding into new markets and delivering on our programs of record, while strengthening both top-line and bottom-line results. ATK is a company making a difference and I look forward to helping make a great company become even better."
ATK is a premier aerospace and defense company with more than 18,000 employees in 22 states, Puerto Rico and internationally, and revenues of approximately $4.8 billion.