Carlyle Group Senior Advisor John P. Jumper will become CEO of SAIC, a huge government contracting firm. Jumper sat on SAIC's board since 2007 and will need only move a few chairs down to the CEO seat. Jumpers other board slots include
Jacobs Engineering Group Inc.
WESCO Aircraft Holdings, Inc.
NACCO Industries, Inc.
TechTeam Global, Inc.
Here's what SAIC's 2011 SEC filing DEF 14A had to say about Jumper:
General Jumper retired from the United States Air Force in 2005 after nearly 40 years of service. From September 2001 to November 2005, General Jumper was the Chief of Staff of the United States Air Force, serving as the senior uniformed Air Force officer responsible for the organization, training and equipping of active-duty, guard, reserve and civilian forces serving in the United States and overseas. As a member of the Joint Chiefs of Staff, General Jumper functioned as a military advisor to the Secretary of Defense, National Security Council and the President.SAIC waived the mandatory retirement age of 65 for Jumper. It also hired a CEO without a definitive salary and compensation package.
The Board believes that General Jumper’s proven leadership ability and management skills, demonstrated by his service as the highest-ranking officer in the U.S. Air Force, and his expertise in defense and intelligence matters, make him highly qualified to serve as a director. General Jumper’s experience gives him a unique understanding of the needs of our largest customers. He is also an “audit committee financial expert” as defined in SEC rules.
John Jumper also has Jumper Associates, a position from which he served as a member of the HARVARD UNIVERSITY EXECUTIVE SESSION ON UNMANNED AND ROBOTIC WARFARE: Issues, Options, And Futures.
Jumper continued the "unmanned and robotic warfare" theme in conjunction with another Carlyle affiliate, Booz Allen Hamilton. He penned a paper on the topic of turning the concept into corporate cash, via government purchasing. He talked about "real jointness." That term also applies to the Government-Corporate Monstrosity, Eisenhower's MIC on $13 trillion in federal steroids.
Welcome to the real joint, where political influence, high dollars and government largesse overlap. It caters to Carlyle and its PEU ilk. How many people were charged or went to jail for the following:
SAIC took a $232 million loss provision for costs connected to kickback, wire fraud and money laundering allegations stemming from the CityTime workforce contract in New York.Carlyle knows full well how to settle for millions without an admission of guilt.
Update 3-5-12: Jumper's compensation became public. It includes an annual base salary of $1.2 million plus bonus, besides a signing bonus of $150,000. His target cash incentive award for the fiscal year 2013 will be $1.4 million, with the potential to earn up to $2.20 million. Jumper also will be eligible to receive equity valued at up to $4.5 million.