California Business Minute™

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Hi, I am Tim Johnson and welcome to the California Business Minute.

SAIC a scientific, engineering, and technology applications company,
announced last week that it will relocate its corporate headquarters
to the company's facilities in McLean, Virginia from San Diego.

According to the Baltimore Business Journal, the announcement put an
end to a longtime rumor and one of the “worst-kept secrets” of late,
according to industry insiders. “This move will formally relocate the
corporate executive leadership team closer to our federal government
customers enabling us to better respond quickly and efficiently to
their critical needs, while maintaining a significant presence in San
Diego,” said CEO Walt Havenstein. “Although our headquarters location
has changed, our commitment to customer satisfaction and high ethical
standards remains constant.”

Havenstein was named CEO of SAIC in June and assumed his position in
McLean, on Sept. 21. Havenstein joins nine of SAIC's 12-executive
leadership team already location at the new headquarters there. Havenstein
takes over for Ken Dahlberg, who is now chairman of SAIC's board of directors.
The two formerly worked together at Raytheon Co. Dahlberg will remain in
San Diego. The company currently employs about 17,500 people in the Washington
area with about 6,000 in McLean — outweighing its 4,500-employee presence in
Southern California and creating speculation for years that the company would
move its headquarters.

I am Tim Johnson and this has been the California Business Minute.