CEO Transition and Leadership Changes at Leonardo DRS, Inc.

Leonardo DRS, Inc. announced the retirement of William J. Lynn III as Chief Executive Officer, Non-Proxy Holder Director, and Chairman of the Board, effective December 31, 2025. Lynn will continue as an employee until April 1, 2026. Concurrently, the Board appointed John Baylouny as President and Chief Executive Officer, effective January 1, 2026. Baylouny, who has been with the company for over 35 years, currently serves as Chief Operating Officer. The company also entered into an employment agreement with Baylouny, which includes an annual base salary of $950,000, participation in the Incentive Compensation Plan, and long-term incentive plans. Additionally, Frances F. Townsend was appointed as Chair of the Board, effective January 1, 2026. The company entered into a Transition Separation Plan with Lynn, outlining the terms of his retirement and transition support.