Ed Sheehan to Retire as CEO of Concurrent Technologies Corp.

Ed Sheehan, the chief executive of Concurrent Technologies Corp. (CTC), has announced his intention to retire on June 30, 2025, after 18 years at the helm. His decision marks the end of an era for the nonprofit science and research organization, which has been a significant player in the applied scientific research sector. CTC’s board of directors has initiated the search for Sheehan’s successor.

With a career at CTC spanning 33 years, Sheehan has overseen the company’s evolution and strategic direction. His retirement announcement follows the completion of CTC’s new ten-year strategic plan, aimed at shaping the future of the organization as well as that of its affiliate, Enterprise Ventures Corp., which was established in 2000 for technology transitions.

Sheehan stated, “I believe this is a good time to transition the top leadership of the organization to lead the next phase of organizational growth.” He expressed his commitment to ensuring a smooth transition, indicating that he plans to maintain a relationship with CTC post-retirement.

CTC’s Focus Areas and Financial Performance

CTC specializes in applied scientific research and development across four main areas: digital mission solutions, engineering and advanced manufacturing, readiness solutions, and energy resilience and sustainability. The firm, headquartered in Johnstown, Pennsylvania, has reported approximately $36.4 million in unclassified prime contract revenue over the past year, with projects for the U.S. Navy making up the majority of its work at 51.6%. Additionally, the General Services Administration accounts for 40.9% of CTC’s revenue, reflecting a diverse client base that likely utilizes task and delivery order-based contract vehicles.

As CTC embarks on this new chapter without Sheehan, the organization is poised to leverage its established expertise while adapting to future challenges and opportunities in the scientific research landscape. The transition in leadership is expected to foster continued growth and innovation within the firm, ensuring it remains a vital contributor to applied research and development in the years to come.