Mercury Systems
MRCY,
said Thursday that it has named interim president and chief executive officer Bill Ballhaus as the chairman of the board in the latest executive move at the technology company.
Ballhaus will succeed William O’Brien in the role, who is retiring, the company said.
Named interim CEO last month after the company’s attempt to find a buyer failed, Ballhaus will assume the role of chairman effective immediately prior to the 2023 annual shareholders meeting.
“The changes to our board’s leadership reflect the natural evolution of the Mercury Board to guide the company’s next chapter,” O’Brien said.
On June 23, Mercury Systems said its then CEO Mark Aslett would resign, and noted that it had identified the next chief financial officer, which it said it plans to announce in the coming weeks.
Mercury Systems in January had its board evaluate strategic alternatives, focused on the potential sale of the company. Its financial advisers contacted more than 40 potential bidders and the board executed confidentiality agreements with 20 parties.