CEO of Reston-based Contractor to Retire by Mid-year

Dan Allen, chairman and CEO of Reston-based government IT and management services firm Serco Inc., said he plans to retire by the middle of this year.

The company — the North American arm of British-based government services company Serco Group PLC, which trades on the London stock exchange — said a search will begin for both internal and external candidates as soon as Allen steps down.

Allen leaves at a time of uncertainty for a healthy chunk of Serco Inc.’s future revenue. About 30 percent of its 2016 revenue was tied to a contract supporting the Affordable Care Act, providing eligibility processing services to those seeking health insurance. While the company forecasts that revenue to be “broadly flat” in 2017, talk of a potential ACA repeal hangs ominously over that work.

In all, Serco Inc. accounted for 691.4 million pounds, which the company said equaled about $944 million, in total 2016 revenue, making up nearly a quarter of parent company Serco Group’s total revenue for the…Read the full story from the Washington Business Journal.

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