BA - Mercury Systems drops after company appoints Bill Ballhaus as chief executive

2023-08-15 16:33:02 ET

Share of Mercury Systems fell over 10% in extended trading on Tuesday after the defense tech firm said it had appointed Bill Ballhaus as president and chief executive officer, effective immediately.

The company had named Ballhaus as interim president and CEO in June after concluding its strategic review .

According to Mercury Systems, Ballhaus served as the chairman and CEO of Blackboard until 2021. He has also held executive positions at BAE Systems ( OTCPK:BAESF ), Boeing ( BA ) and Hughes.

"As previously announced, Mr. Ballhaus will also assume the role of Chairman of the Board, effective immediately prior to the 2023 Annual Meeting of Shareholders," the company said in a statement .

For further details see: