08:17 AM EDT, 09/06/2024 (MT Newswires) -- Jacobs Solutions ( J ) said Friday that Chief Executive Bob Pragada will assume the additional role of board chairman that will become effective following the spinoff of the company's Critical Mission Solutions and Cyber & Intelligence businesses.

The company said last year that it had agreed to spin off and merge its Critical Mission Solutions and Cyber & Intelligence businesses with Amentum for an expected cash dividend of $1 billion.

Jacobs said that Pragada will succeed Steve Demetriou, who will step down to become executive chair at Amentum.

The company also named Louis Pinkham as lead independent director, succeeding Chris Thompson, who will join Amentum's board, Jacobs added.

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