Shay has over 45 years of acquisition and contracting experience. He graduated with distinction from the U.S. Naval Academy in 1972; thereafter, he served two tours of duty aboard U.S. Navy destroyers and won recognition as the Outstanding Junior Officer, Fifth Naval District. He is an Aegis Weapons system and Ticonderoga class plank owner having served as the Naval Procurement Officer who procured the Navy’s first Aegis system for DDG-47 at the Naval Sea Systems Command.

He had a distinguished 22-year private sector career in the defense and commercial industries. From 1978 to 2000, Mr. Assad worked for the Raytheon Company, holding positions of increasing authority, including Vice President – Director of Contracts; Senior Vice President, Contracts; Executive Vice President; and Chairman and Chief Executive Officer of Raytheon's Engineering and Construction (RE&C) business with eleven offices world-wide, revenue of $2.7 Billion, and 15,000 employees.

He commenced federal government civil service in 2004 as the assistant deputy commandant, installations and logistics for contracts at headquarters, the Marine Corps, Washington, DC, serving as the senior civilian contracting official for the U.S. Marine Corps. Mr. Assad joined OSD in April 2006 as the Director, Defense Pricing and Acquisition Policy (DPAP) (the predecessor organization to DPC), and served in that position through June 2011.

During his first tenure as Director, DPAP, he concurrently served in other Acquisition, Technology & Logistics (AT&L) leadership positions. In January 2009, he assumed the position of Acting Deputy Under Secretary of Defense for Acquisition and Technology. From December 15, 2009 to June 5, 2011, he performed the duties of the Assistant Secretary of Defense for Acquisition. In June 2011, he left his role as Director, DPAP to serve in the newly established position of Director, Defense Pricing. In August 2017 through December 2018, he served as acting DPAP, concurrent with his duties as Director, DP.

During his entire federal career he has been a tireless advocate for improving employment opportunities for the blind and severely disabled for which he received numerous service awards.

Over his tenure of federal service, Mr. Assad was the most decorated contracting and pricing professional in the career civil service having received numerous federal service awards. Principal among those awards were: 1) the Distinguished Service Medal with Bronze Palms; 2) the Distinguished Service Medal; 3) the Secretary of Defense Meritorious Service Medal; 4) the Secretary of Defense Exceptional Service Medal; 5) a Distinguished Presidential Rank Award ; 6) a Meritorious Presidential Rank Award; and 7) the Department of Defense Inspector General Joseph H. Sherick Award (the highest honor given to non-IG employees).

He was inducted into the Defense Acquisition University (DAU) Hall of Fame in recognition of his leadership in the acquisition profession and for the establishment of the Defense Acquisition Workforce Development Fund which serves as the foundation for providing the necessary training to the acquisition workforce on an ongoing basis.

Shay currently is the President of The Shay Consulting and Arcade Group, Inc. His consulting work is associated with matters involving TINA and civil/criminal procurement fraud. The retail side of the business provides parts/equipment to the arcade industry. He is also serves on the board of the American Foundation for the Blind (AFB).