Serco appoints new CEO in North America

12 July 2022

Serco announces the appointment of Tom Watson as Chief Executive Officer (CEO) of Serco's North American division, which employs more than 9,000 people and delivers a wide range of services to the U.S. and Canadian governments.  He will succeed Dave Dacquino, who will be retiring from his full-time executive role in September and will continue to serve as non-executive Chair of the company's Board of Directors in North America.

Tom Watson joined Serco in April 2018 and steps into the CEO role from his position as Senior Vice President responsible for Serco's North America Defense business.  He brings over 25 years of experience in providing services to the U.S. Federal Government. Prior to joining Serco, he served as Senior Vice President and General Manager of SAIC's Navy and Marine Corps Customer Group. Before joining SAIC in 1996, Watson worked at RCI (which was subsequently acquired by Serco) providing technical and engineering support for U.S. Navy intelligence systems. His career also includes six years active duty in the U.S. Navy as an electronics technician; he holds an MBA from University of Maryland and a BS in Information Technology from National University.

Rupert Soames, Serco Group Chief Executive, said "I am delighted to announce the appointment of Tom Watson as successor to Dave Dacquino following a rigorous selection process involving both internal and external candidates, and I look forward to seeing him take the organisation forward at a time when the division has strong momentum.  Tom has done a tremendous job leading our North America Defense business, and has demonstrated a real commitment to Serco's mission, customers, and colleagues; he has also been closely involved in the recent acquisitions of WBB and Alion's naval systems business unit.  I also want to pay tribute to the outstanding contribution of Dave Dacquino, under whose stewardship the Americas division has delivered, since 2017, compound annual growth of 15% in revenues and 36% in Underlying Trading Profit.  I am delighted he will continue to serve as non-executive Chair of the North American Board."

Ends

For further information please contact:

Paul Checketts, Head of Investor Relations, tel: +44 (0) 7718 195 074 or email: [email protected]

Marcus De Ville, Head of Media Relations; tel +44 (0) 7738 898 550 or email: [email protected]

About Serco

Serco is a leading provider of public services. Our customers are governments or others operating in the public sector.  We gain scale, expertise and diversification by operating internationally across five sectors and four geographies: Defence, Justice & Immigration, Transport, Health and Citizen Services, delivered in UK & Europe, North America, Asia Pacific and the Middle East.  In 2021, the Americas division represented 25% of Serco's revenue and 42% of Underlying Trading Profit before corporate costs.

More information can be found at www.serco.com

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