The Alabama Business Hall of Fame announced on Thursday, July 23, that retired CEO and former chairman of the board of Dynetics, Dr. Marcus Bendickson, will be inducted as part of the 2020 class.
The hall of fame was established in 1973 to honor those who brought lasting fame to the state through their business contributions, the hall of fame is housed at the Culverhouse College of Business' Bidgood Hall at the University of Alabama.
Bendickson was the 17th employee at Dynetics, continuing his career there as an engineer specializing in radar systems. He became CEO of Dynetics in 1989 when he and his business partner, Tom Baumbach, helped to formulate, plan and execute a leveraged employee stock ownership purchase (ESOP) buyout of the company from its founders. This included securing, financing and setting up the mechanisms for repayment of the loan without adversely affecting the operational aspects of the corporation. Under Bendickson's leadership, the Dynetics commercial sector has grown to nearly 20 percent of the company's annual sales, with activities including automotive electrical rapid prototyping, computer network design, information security and space propulsion products. The company, which became a 100 percent ESOP S Corporation in 2011, has more than 1,500 employees.
Under Bendickson's leadership, Dynetics steadily grew to the second-largest employee-owned company in Alabama, generating sales of about $275 million at the time of his retirement in July 2015. Bendickson remained as chairman of the Dynetics board of directors, leading the company through a period of unprecedented growth until the company was acquired by Leidos in 2020. Thanks in large part to his vision and leadership, the Dynetics portfolio has grown to encompass highly specialized technical services and a range of software and hardware products, including components, subsystems and complex end-to-end systems.
He is involved in a number of organizations that serve the business interests of the Huntsville area, including serving on the boards of directors of the BB&T Greater Huntsville Advisory Board, the Huntsville Chamber of Commerce and the HudsonAlpha Foundation. He also serves as vice-chair of the UAH Foundation Board of Trustees.
Bendickson earned a doctorate in electrical engineering from the University of Alabama at Huntsville, a Master of Science in electrical engineering from Columbia University, and a bachelor's degree from Iowa State University.
Other 2020 inductees include: Robert Baron of Huntsville; Cecil Batchelor of Russellville; Jay Grinney of Birmingham; Lonnie Johnson of Atlanta, Georgia; Joe Ritch of Huntsville; and Stan Starnes of Birmingham.