10 September 2019
Portsmouth, VA, 10 September 2019 –
Fairlead Integrated, with sophisticated naval ship repair and maintenance facilities in Newport News and Portsmouth, Virginia, is pleased to announce that Dan Akerson, the former Chairman and CEO of General Motors, has joined the 300-employee company as both a minority owner and Senior Strategic Advisor.
Akerson took over GM in 2010 when it was in bankruptcy. Under his four year leadership the company rebounded, repaying the US Government and posting profits exceeding $25-billion after only three years. GM won its first JD Power top-quality award in 25 years during his tenure, a credit to Akerson who had never previously been in the auto industry, but he did have prior military, financial and corporate leadership experience.
Prior to General Motors, Akerson was with the Carlyle Group for seven years where he was responsible for the firm’s largest private equity fund. Earlier he was an executive in the fast growing telecommunications industry, as Chairmen/CEO of Nextel Communications, Chairman/CEO of General Instrument, and President of MCI Communications.
“Fairlead is a well-established company with a strong leadership team that is poised for a period of rapid growth,” says Akerson. “I look forward to helping execute their strategy to deliver superior products and services that will ultimately be delivered to the United States Navy and other Department of Defense customers.”
Jerry Miller, owner and CEO of Fairlead, says he is honored and excited to have someone of Akerson’s stature and abilities on board at Fairlead. “Dan will be a great partner, mentor, and strategic advisor. His investment in the company and business leadership experience will help our company achieve the growth potential that we envision over the next decade.”
Akerson is a Distinguished Graduate of the US Naval Academy, Class of 1970, where he earned a Bachelor of Science degree in engineering before serving five years as a surface warfare officer. He also holds a Master of Science degree in Economics from the London School of Economics.
Akerson serves on the board of Lockheed Martin Corporation, CommScope, Inc and KLDiscovery, Inc. He also chairs the board of the US Naval Academy Foundation.
About Fairlead Integrated:
Fairlead Integrated is a veteran-owned, small business supplier of integrated electrical and control systems, large-scale mechanical fabrications and structures, precision machined metal components and subsystems, and advanced mobile containerized products. Fairlead’s products are part of mission critical systems in the U.S. Navy’s Nimitz and Ford-class aircraft carriers, Virginia-class submarines, all classes of surface combatants and amphibious ships including Arleigh Burke Class DDGs, San Antonio Class LPDs and the Littoral Combat Ship, and many classes of support and auxiliary ships of the Military Sealift Command, the Maritime Administration, and the U.S. Coast Guard. Additionally, Fairlead provides repair and maintenance services to small boats and craft through its Fairlead Boatworks Division in Newport News, VA. Fairlead Integrated is headquartered in Portsmouth, VA facilities in Portsmouth and Newport News.
For more information, contact:
Danny Rubin, Rubin Communications Group, (757) 285-7617, danny@rubincommunications.com