Parsons Promotes Matt Ofilos to Chief Financial Officer; Names George Ball and Ellen Lord to Board of Directors
CENTREVILLE, Va., July 25, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) has named Matt Ofilos as the company's chief financial officer (CFO). Ofilos, who previously served as Parsons' executive vice president of finance, succeeds George Ball, who served as CFO since 2008 and will remain in an advisory capacity through September 2022. Ofilos brings more than 20 years of finance experience and a proven track record of delivering profitable growth and building high-performance finance teams to the role. The board of directors also announced the appointment of two new directors: George Ball and Ellen Lord, the former Under Secretary of Defense for Acquisition and Sustainment. All three appointments are effective July 25, 2022.
"Matt has earned the trust and confidence of our board, workforce, and stakeholders since joining the company last year," said Carey Smith, chair, president, and chief executive officer of Parsons. "His public company experience, financial acumen, and integrity make him a natural selection to serve as our next CFO. His focus on growth and execution will continue to underpin the success of our finance function and the entire company."
As executive vice president of finance, Ofilos led the company's financial operations, including project controls, financial planning, accounting, treasury, and financial systems. Before joining Parsons in 2021, he led multi-billion-dollar finance organizations, including those for Amazon Web Services' (AWS) Worldwide Public Sector and Strategic Industries businesses. Prior to AWS, he held roles of increasing responsibility at Raytheon, concluding his tenure as CFO for the Space and Command & Control businesses for the Intelligence, Information and Services segment. Ofilos holds a Master of Business Administration from Boston University and a Bachelor of Science from Babson College.
"I am honored and proud to be named Parsons' next CFO and succeed such a respected leader as George Ball," said Ofilos. "I look forward to continuing to partner with our business leaders to drive growth and operational excellence while leading a best-in-class finance organization. It's a privilege to work alongside the talented employees across our global enterprise who successfully deliver on our customers' critical missions every day."
Smith also applauded the appointment of Ball and Lord to Parsons' Board of Directors: "George has played an indelible role in shaping Parsons since joining the company in 1995, and especially since being appointed CFO in 2008. His strategic counsel enabled us to become an industry leader in the national security and critical infrastructure markets. I'm thrilled that we'll continue to benefit from his insights and expertise, especially in the infrastructure sector, as a member of our board."
"Ellen Lord has spent her career advancing national security. Her addition to the Parsons' Board brings a wealth of operational and strategic experience across government and industry that are essential to our goal of advancing defense, intelligence, and global infrastructure. Her voice, perspectives, and depth of understanding of future global stability imperatives will be invaluable additions to our board."
Ball joined Parsons in 1995 and served in multiple roles before being appointed CFO in 2008. He was integral in the company going public in May 2019 and the organization's transformation into a technology-driven solutions company. He has also served on the boards of directors of multiple public and non-profit organizations.
Lord previously served in the U.S. Department of Defense as Under Secretary of Defense for Acquisition and Sustainment from 2017-2021, where she was responsible for all matters pertaining to acquisition; developmental testing; contract administration; logistics and materiel readiness; installations and environment; operational energy; chemical, biological, and nuclear weapons; the acquisition workforce; and the defense industrial base. She brings more than 30 years of experience in the defense industry, including having served as president and chief executive officer of Textron Systems Corporation, a subsidiary of Textron Inc., where she led a broad business supporting global defense, homeland security, aerospace, and infrastructure protection customers. She also serves on the boards of GEOST, LLC; AAR Corporation; and Voyager Space.
To learn more about Parsons' leadership team, please visit: https://www.parsons.com/leadership/
About Parsons
Parsons (NYSE:PSN) is a leading disruptive technology provider in the national security and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, C5ISR, transportation, environmental remediation, and water/wastewater treatment. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.
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