BigBear.ai (BBAI) stock is jumping 12% today. BBAI "provides artificial intelligence-powered decision intelligence solutions."

The company's shares are rallying after it announced yesterday after the market closed that it had hired a new CEO.

Specifically, the firm disclosed that it had tapped Kevin McAleenan as its new CEO, effective yesterday. McAleenan replaced Mandy Long, who will stay on as an adviser at BigBear.ai (BBAI). The firm did not indicate in its press release the amount of time that Long will remain onboard.

McAleenan's Background

Before being promoted to CEO, McAleenan was BBAI's president. The company noted that he "has deep government and business experience working with U.S. national security agencies."

According to McAleenan's LinkedIn profile, he worked at the U.S. Customs and Border Protection agency for 9 years and 7 months, ending his tenure there as a Commissioner in November 2019. He was also acting Secretary of the Department of Homeland Security from April 2019 to November 2019.

Subsequently, McAleenan in January 2020 founded a company called Pangiam, whose product "enables international passengers to board using biometric verification, eliminating the need for a traditional boarding pass," according to BBAI.

Last year, BigBear.ai (BBAI) acquired Pangiam, bringing McAleenan into BBAI.

BBAI Will Sell Shares

In addition to the CEO change, BigBear.ai (BBAI) stated in an SEC filing that it may look to sell an additional 161.68M shares of its stock.

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Disclosure: None. This article is originally published at Insider Monkey.