Daniel Del'Re
Information technology services provider Affiliated Computer Services (ACS Quote - Cramer on ACS - Stock Picks) promoted two executives Tuesday as the company charts its own path to growth as an alternative to a recent buyout offer.
The company appointed Lora Villarreal, head of human resources, and Tom Burlin, president of its government consulting business to executive vice president positions. Burlin will also assume the role of chief operating officer. Villarreal joined ACS in 1998 as the company's head of human resources. In her new role, Villarreal will focus on succession planning, management training and executive development. Burlin, who joined ACS in 2005, will oversee the company's three business units: government services, commercial services and its consulting practice. "ACS is in the midst of rapid and positive change, and we will continue to align our organization to response to both the external marketplace and internal needs," said Chief Executive Lynn Blodgett in a statement. The appointments follow an announcement earlier this month in which Blodgett said the company would double revenue to $10 billion by 2010. The company is building its project backlog to keep revenue growing in line with Blodgett's goal. ACS' rate of project renewals is running over 90% year to date, up from 85% last year, according to RBC analyst Cynthia Houlton. The company's total project pipeline is $1.6 billion. RBC doesn't have a banking relationship with ACS.
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