DULLES, Va.Aug. 23, 2006--Mr. Carl A. Marchetto was named today by Orbital Sciences Corporation (NYSE:ORB) as the new Executive Vice President and General Manager of its largest business unit, the Space Systems Group. Mr. Marchetto will assume his new post in early September, succeeding the current group head, Mr. Jack M. Danko, who is transitioning into semi-retirement after nearly 20 years of distinguished service with Orbital and predecessor companies. Mr. Danko will continue his tenure with Orbital as an advisor to the company's executive management team to ensure a smooth transition of leadership and continue to assist with current operations and future growth in the company's space technical services business.
Mr. Marchetto comes to Orbital from Eastman Kodak Company, where he most recently served as corporate Senior Vice President and Chief Operating Officer of the Digital and Film Imaging Systems business unit, a $9.2 billion enterprise with 11,000 employees. While at Kodak, he also led the Commercial and Government Systems group that included satellite-based imaging systems for commercial and government space programs, which quadrupled its sales over the last five years.
"I am delighted to join Orbital at a very exciting time in the company's history," Mr. Marchetto stated. "The satellite business is rapidly expanding in terms of manufacturing volume, revenue, profitability and, perhaps most exciting for me, new business opportunities here at Orbital. The company is known throughout the world as the leading provider of smaller-sized satellites that combine innovation and cost-effectiveness with the highest levels of reliability and product quality. I intend to build on those strengths as we seek to increase our market share in existing commercial and government markets and expand into newer areas for the company, such as national security space systems, where our strong record of creativity, responsiveness and reliability can well serve the nation's interests."
Prior to his 10 years at Eastman Kodak, Mr. Marchetto spent six years at Lockheed Martin Corporation's Astro Space Division, where he was Program Director for the GE-1 commercial communications spacecraft and Products Director for Lockheed Martin's A2100 satellite product line. He also spent 11 years at the Jet Propulsion Laboratory where he worked as an engineering manager on various NASA planetary exploration and Earth-observing space missions.
Mr. Marchetto, 51, holds a M.S. degree in Mechanical Engineering from California State University and a B.S. degree in Engineering from Stevens Institute of Technology. He has also completed the post-graduate Engineering-Management Program at California Institute of Technology.
Orbital also recognized Mr. Danko's contributions to the company, which he joined when Orbital acquired Fairchild Space and Defense Corporation in 1994. Since that time, he has served in several senior leadership roles, including Senior Vice President of the company's Technical Services Division from 1994 to 1998. He was then elevated to Deputy General Manager of the Space Systems Group until he was promoted to his current position as Executive Vice President and General Manager of the satellite business unit in 2002. Under his leadership, Orbital's satellite-related revenues grew from approximately $225 million in 2002 to over $400 million in targeted revenue for 2006.
"We are extraordinarily grateful to Jack for his many years of service to Orbital," said Mr. David W. Thompson, Orbital's Chairman and Chief Executive Officer. "He has provided the company with steady leadership in each of the roles he has held, culminating with his stewardship of our largest operating group for the past four years."
Orbital develops and manufactures small rockets and space systems for commercial, military and civil government customers. The company's primary products are satellites and launch vehicles, including low-orbit, geosynchronous-orbit and planetary spacecraft for communications, remote sensing, scientific and defense missions; ground- and air-launched rockets that deliver satellites into orbit; and missile defense systems that are used as interceptor and target vehicles. Orbital also offers space-related technical services to government agencies and develops and builds satellite-based transportation management systems for public transit agencies and private vehicle fleet operators.
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CONTACT: Orbital Sciences Corporation Public and Investor Relations Barron Beneski, 703-406-5528 Beneski.firstname.lastname@example.org SOURCE: Orbital Sciences Corporation