Manchester, NH – Failed CEO Walt Havenstein is working overtime to mislead the public and duck responsibility for his disastrous record of failed leadership and mismanagement as CEO of SAIC. In an interview with the Concord Monitor and in today’s WGIR GOP gubernatorial debate, Havenstein again tried to rewrite history and hide the fact that he left SAIC in shambles, as the company shed 5,000 jobs and its stock value plummeted 32%.
Havenstein told the Concord Monitor that SAIC was “much stronger when I left, both market- wise and from a leadership perspective,” begging the obvious question: what planet was Havenstein living on?
According to the Washington Post, “the company struggled under [Havenstein’s] strategy, watching its profit and revenue decline.” Observers even questioned why SAIC’s board didn’t insist that Havenstein’s resignation was effective immediately, with one analyst commenting to Reuters, “The firm really needs some changes in their strategy now and with the current CEO [Havenstein] now scheduled to stay on for nine months, it makes it difficult for the firm to make any significant strategic directional change.”
“Walt Havenstein is either delusional, deliberately trying to mislead voters, or both, about his disastrous record as CEO of SAIC,” said New Hampshire Democratic Party Deputy Communications Director Bryan Lesswing. “Havenstein ran SAIC into the ground, failing to stop a $500 million fraud scandal and putting in place a failed strategy as the company lost millions of dollars and shed thousands of jobs. The only way one could argue with a straight face that Havenstein helped SAIC is that the company’s stock shot up 10% after news broke that he would be stepping down.”
In today’s WGIR debate, Havenstein also came under fire for his failure to stop the “colossal fraud” that occurred at SAIC. While Havenstein claims he responded decisively to the massive scandal, the truth is that Havenstein didn’t fire the SAIC executives for their role in the scandal until nearly a year after charges were issued in the case and weeks after Havenstein announced “without warning” that he would step down from the company. [WaltFacts.com]
“Despite Havenstein’s increasingly desperate attempts, there’s no way he can hide the fact that his failed leadership left SAIC in shambles,” added Lesswing.