Utah native Mark DeYoung was promoted Thursday to the presidency of Alliant Techsystems, two days after the aerospace company's future prospects were threatened by President Obama's proposal to cut a space program important to its Box Elder County operations.
DeYoung, 51, is a 25-year veteran with ATK and its predecessor companies, serving most recently as president of the firm's Clearfield-based Armament Systems division, which provides small-caliber ammunition to military forces such as the Afghan army.
"I am honored to become ATK's CEO," he said in a news release. "Our company is already a leading force in aerospace, defense and commercial markets. We will build and expand on that success."
This past year, however, expansion has not been buzzword linked most prominently to ATK's presence in Utah.
The end of government contracts for space shuttle and Minuteman III rocket motors prompted the company to lay off 550 employees in October -- including 400 at its Promontory facility west of Brigham City and 130 at its Magna plant. Two months later, ATK said the demise of those programs would result in 800 employees losing their jobs, cuts being made now.
And on Tuesday, Obama released a budget proposal that would end the need for ATK to produce Ares rocket motors that would propel new space vehicles on manned moon missions. Utah Rep. Rob Bishop said the cut could cost 2,000 ATK jobs in Utah, 7,000 nationwide.
In announcing DeYoung's promotion, ATK cited his success in growing Armament Division revenues from $600 million in 2003 to an estimated $2.1 billion this fiscal year.
"His lean manufacturing initiatives and modernization efforts yielded continued margin improvements within Armaments Systems. Through aggressive acquisition and organic growth into adjacent markets, Armament Systems expanded into commercial ammunition, the tactical accessories market and international markets for non-standard and medium-caliber gun systems," the company said.
DeYoung succeeds John Shroyer, ATK's chief financial officer who had served as interim chief executive since last Nov. 11, when chairman and CEO Daniel Murphy announced his retirement after six years on the job.
Ron Fogleman, ATK's board chairman and a retired Air Force general, said DeYoung emerged from a search of internal and external candidates as "the most qualified to lead the company. His breadth of experience across ATK's core businesses, his strategic vision, results-driven leadership style and focus on delivering long-term shareholder value will position our company for continued success."
DeYoung's ATK career began in 1985 as a financial analyst at what was then Hercules Aerospace Co. in Magna. In 1996, he moved to Radford, Va. to be financial manager of ATK's propellant manufacturing facility. The following year DeYoung became director of business operations for ATK Missile Systems in Rocket Center, W.Va.
He became president of the newly formed Ammunition Division in 1999.
Based in Minneapolis, the aerospace and defense company says it has 18,000 employees in 22 states, Puerto Rico and foreign countries. It had revenues of $4.8 billion last year.
