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Serco Announces Appointment of New CEO

Serco Inc. has announced the appointment of Tom Watson to Chief Executive Officer (CEO) effective September 1, 2022. This appointment follows the announcement that Dave Dacquino, who joined Serco in 2015 and took the helm as Chairman & CEO in 2017, will retire from his full-time executive role. Following his retirement, Dacquino will remain 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 organization 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 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

Dave Dacquino said: “I am grateful to have spent more than seven years with Serco, and I am deeply honored to have had the opportunity to lead this team for the last five. Today, I am excited for Tom and for Serco. Tom is ready for this role; he is a proven leader with tremendous passion. I am confident in his ability to continue guiding the organization, to drive innovation, and to shape our collaborative and inclusive culture.”

Tom Watson said “I am humbled and excited by this opportunity. Serco is an incredible company, and it is an honor to lead and work alongside the amazing people we have here. I look forward to building on the great foundation and positive growth we have established over the past few years. I thank Dave for his leadership, friendship, counsel, and collaboration over the years, and I congratulate him on his exceptional career at Serco and well-earned retirement.

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