Leidos division president steps down

Angela Heise, who headed the Civil business segment of Leidos Holdings Inc. (NYSE: LDOS), will step down Friday from the Herndon federal contracting giant, according to a Securities and Exchange Commission filing.

The SEC document filed Tuesday said that Leidos executives and Heise “mutually agreed” that she would step down that day and that she would receive an executive severance package previously agreed upon as part of an executive layoff event. 

According to Leidos’ most recent proxy report, such a severance plan would include a “cash lump sum severance benefit of 1.0 times base salary plus target bonus; and medical benefits equal to the cash value of premiums for 12 months.” For Heise, that would mean a severance package valued between $2.2 million and $4.2 million, depending on the determining factors of her departure. 

Heise could not be reached for comment.

A spokeswoman for the company said in an email that Heise was leaving “Leidos to spend more time with…

Read the full story from the Washington Business Journal.

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