BigBear.ai Taps McAleenan as CEO, Leveraging His Government Expertise in AI for National Security

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BigBear.ai Taps McAleenan as CEO, Leveraging His Government Expertise in AI for National Security

BigBear.ai Appoints Kevin McAleenan as CEO

BigBear.ai Inc (BBAI) announced a leadership change on Wednesday, appointing Kevin McAleenan as the company's new CEO and board member. McAleenan will take over from Mandy Long, who will transition to an advisory role.

McAleenan brings extensive experience in government and national security to BigBear.ai. He previously served as Acting Secretary of the U.S. Department of Homeland Security during President-elect Donald Trump's first administration. Currently, he holds the position of president at BigBear.ai.

"Today marks an important next step for the business," said Peter Cannito, chair of BigBear.ai's board. "The demand for differentiated artificial intelligence solutions to provide strategic advantage in government and business is strong. The combination of recent technological achievements and strategic contract awards have positioned BigBear.ai as a leading AI solutions provider focused on national security imperatives."

Cannito further emphasized McAleenan's qualifications, stating, "Having served at the highest levels of government, Kevin brings an intimate understanding of current national security priorities and the challenges faced by our mission partners. This provides BigBear.ai with a deep understanding of how artificial intelligence can be most effectively leveraged to maximize impact."

Wall Street analysts generally view BigBear.ai favorably, with a majority recommending a "Buy" rating. Scott Buck from HC Wainwright & Co. is particularly optimistic, predicting a 133.33% increase in the stock price over the next year.

BigBear.ai's stock price has risen significantly in recent months, reflecting improved investor sentiment and the company's strong financial performance. Revenue has increased by 22.12% over the past year.

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Following the announcement, BigBear.ai shares rose 4.42% to $3.54 in after-hours trading on Wednesday.