Computer Sciences Chairman, President And CEO Michael Laphen To Retire

Announced Tuesday that its Chairman, President and CEO Michael Laphen has set to retire from the positions. The board has fashioned a pursuit committee to spot a replacement CEO and has retained Heidrick & Struggles to advise it on potential candidates. Meanwhile, the company has not revealed the rationale for his retirement.

"On behalf of the Board and everyone at CSC, i might need to thank Mike not just for his leadership over the last four years as Chairman, President and CEO, however conjointly for the dedication and commitment that he has given to CSC for nearly thirty five years," Lead Director Irving Bailey, II said in an exceedingly statement.

The Falls Church, Virginia-based company said Laphen, age 61, has agreed to continue in his positions until a successor is known as and to help at intervals the completion of the CEO transition, however solely until October thirty one, 2012.

Laphen, who began his skilled career with CSC in 1977, has served as a results of the chairman, CEO and president of the company since 2007. He was appointed chairman in July 2007, and was named to the position of President and CEO in would possibly 2007. Earlier in 2007, he was elected to the board of administrators of the company.

Laphen previously served the company in roles additionally as president and chief operating officer from 2003 to would possibly 2007, company vice chairman from 2001 to 2003, and president of the eu cluster from 2000 to 2003.

"The Board is committed to conducting an intensive search to spot the proper candidate to manage CSC's next CEO and should complete the search as expeditiously as doable," Bailey, II added.

CSC closed Tuesday's regular trading session at $30.11, up $0.52 or 1.76 performing on a volume of one.47 million shares, beneath the three-month average volume of two.62 million shares.