Dynetics today announced that David (Dave) King, president, will replace Marc Bendickson, Ph.D., as chief executive officer, effective immediately. Bendickson recently announced his retirement as CEO after 40 years of service to the company, but will remain on the board of directors as chairman. King is also a board member. Greg Lester, executive vice president for Defense, Space and Intelligence, will replace King as president.
"Dave has been a tremendous leader at Dynetics over the past six years, and I'm honored to hand over the reins to him," said Bendickson. "He started the Space Division, which has become a major area of business for us, and he has been a driving force behind several new product lines including our GroundAware radar and small satellites. I'm confident he will capably lead Dynetics into the future as we continue to grow into a larger and more diverse company serving a variety of industries and government agencies."
King joined the company in 2009 as executive vice president and manager of the Integrated Systems and Special Programs Operating Unit and was named president in October 2013. Prior to joining Dynetics, he retired from NASA's Marshall Space Flight Center (MSFC), where he served as center director, responsible for overseeing 7,000 onsite employees and contractors and a $2.7 billion budget. He is a former space shuttle launch director and director of shuttle processing at Kennedy Space Center in Florida. He played key roles in more than 100 space shuttle missions during his NASA career, and he led the Columbia recovery team following the 2003 accident and then the MSFC team through "Return to Flight" efforts.
"I'm honored to have the opportunity to serve as CEO for such an outstanding company as Dynetics," King said. "Dynetics is indeed fortunate to have Marc continue to serve as chairman of the board of directors, and I want to thank him for his leadership over the past 40-plus years. Thanks to his vision and commitment, the company is on a very positive trajectory for the future. I look forward to working with Greg and the rest of the team to continue to provide high-quality products and services to our customers in both the government and commercial sectors."
Lester, the new president, was promoted in 2013 from vice president of the Air and Missile Defense Systems Operating Unit to an executive vice president overseeing seven technical divisions that perform a variety of work including engineering, fabrication, programmatics, logistics, software, cyber and information assurance. He has served in various technical and management roles during his career at Dynetics, which has spanned 36 years.
Bendickson said, "Greg began his career at Dynetics and has led and supported numerous critical defense programs. Known for his engineering analytical abilities, he served in several technical management roles before joining the executive leadership team. He and Dave have varying s trengths and experience that will complement each other and be very advantageous to the company moving forward."
Bendickson was the 17th employee at Dynetics, continuing his career there as an engineer specializing in radar systems. In 1989, he, along with Chief Technical Officer and former President Tom Baumbach, helped to formulate, plan and execute a leveraged employee stock ownership purchase (ESOP) buyout of the company from its founders. This included securing, financing and setting up the mechanisms for repayment of the loan without adversely affecting the operational aspects of the corporation. Under Bendickson's leadership, the Dynetics commercial sector has grown to nearly 20 percent of the company's annual sales, with activities including automotive electrical rapid prototyping, computer network design, information security and space propulsion products. The company, which became a 100 percent ESOP S Corporation in 2011, has more than 1,500 employees.
Dynetics provides responsive, cost-effective engineering, scientific and IT solutions to the national security, cybersecurity, satellite, launch, automotive and critical infrastructure sectors. Our portfolio features highly specialized technical services and a range of software and hardware products, including components, subsystems and complex end-to-end systems. The company of 1,500 employee/owners is based in Huntsville, Ala., and has offices throughout the U.S. For more information, visit www.dynetics.com.