Leonardo DRS CEO Lynn to retire; COO Baylouny named CEO, Townsend Chair effective Jan 1 2026

Leonardo DRS, Inc.

William J. Lynn III to retire as CEO and Chairman effective Dec 31, 2025; will remain employee through Apr 1, 2026.
John Baylouny, current COO (since 2018), appointed President & CEO and Board member effective Jan 1, 2026.
Frances F. Townsend, lead independent director, named Chair of the Board effective Jan 1, 2026.
Baylouny's employment agreement: $950,000 base salary, 120% target bonus, $2.5M LTI target for 2026.
Lynn receives lump sum equal to 2026 target bonus, continued RSU vesting, and 18 months COBRA reimbursement.

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