Business

January 15, 2014

William H. Swanson to step down as Raytheon CEO

raytheon-l3
Raytheon announced Jan. 15 that its Board of Directors has elected Dr. Thomas A. Kennedy, age 58, to serve as the chief executive officer of Raytheon, effective March 31, 2014.

Kennedy will succeed William H. Swanson, who has served as Raytheon CEO since 2003, and who advised the board of his intention to step down from his position in March, following his 65th birthday next month.

This change in company leadership was undertaken as part of the Board’s orderly leadership transition planning process.

After March, Swanson will continue to serve as chairman of the board while the company completes the transition to the new CEO. The Raytheon board also elected Kennedy to serve on the board, effective January 15, 2014.

Kennedy has served as executive vice president and chief operating officer of Raytheon since April 2013 where he led the recent consolidation of Raytheon’s six businesses to four to enhance productivity, agility and affordability of the Company’s operations. Previously, he served as vice president of Raytheon and president of Raytheon Integrated Defense Systems, one of the company’s four operating businesses. Before assuming the IDS leadership role in 2010, Kennedy served as vice president at Raytheon’s Space and Airborne Systems business where he oversaw strategy and operations for the Tactical Airborne Systems business. Earlier in his more than thirty-year career with Raytheon, he led new business and program activities for several radar and electronic warfare system development programs.  A former captain in the U.S. Air Force, Dr. Kennedy holds a doctorate in engineering from the University of California, Los Angeles, and bachelor’s and master’s degrees in electrical engineering from Rutgers University and the Air Force Institute of Technology, respectively.

“Tom Kennedy is a proven leader with a broad understanding of key technologies, keen customer focus, and a deep understanding of Raytheon’s business,” said Vern Clark, lead director of Raytheon. “Raytheon is well-positioned both domestically and internationally, and with Tom’s experience, we are confident that he will lead our Company successfully in this dynamic global business environment.”

On behalf of the Board and the company, Clark thanked Swanson for his more than forty-one years of service to Raytheon and his outstanding service during the past ten years as the Company’s Chief Executive Officer.

“Under Bill’s leadership as CEO these past ten years, Raytheon has become a customer-focused leader in the aerospace and defense industry. The Company has achieved a strong balance sheet, disciplined program execution, close alignment with customer interests, leadership in global defense markets, and a reputation for sound governance and corporate responsibility,” noted Clark. “We will be fortunate to have Bill’s continued guidance as chairman of the board while the company completes a seamless CEO leadership transition,” Clark added.




All of this week's top headlines to your email every Friday.


 
 

 

Headlines July 31, 2015

News: Carter: Military leaders could arm more troops at home – Following the recent fatal shooting of four Marines and a sailor in Tennessee, Defense Secretary Ash Carter is ordering the military services to consider new policies that would enhance security for troops at home, including potentially arming more personnel.   Business: DOD weighs supplier base,...
 
 

News Briefs July 31, 2015

U.S. delivering eight newer F-16 warplanes to Egypt The United States Embassy in Cairo says the U.S. is delivering eight newer F-16 warplanes to Egypt as part of an ongoing military support package. It says in a July 30 statement that the aircraft, of the current Block 52 production variant, will be flown in from...
 
 
Lockheed Martin photograph

Lockheed Martin successfully tests design changes for Orion spacecraft’s fairing separation system

Lockheed Martin photograph A protective panel for Orion’s service module is jettisoned during testing at Lockheed Martin’s Sunnyvale, California facility. This test series evaluated design changes to the spacecraft’s fair...
 

 

Australian company to provide parts for initial production of Triton UAS

Northrop Grumman has awarded the first Australian supplier contract for the U.S. Navy’s MQ-4C Triton unmanned aircraft system initial production lot to Ferra Engineering. Brisbane-based Ferra Engineering will manufacture mechanical sub-assemblies for the first four Triton air vehicles including structural components. “At Northrop Grumman it’s very important to not only develop...
 
 
Boeing photograph

CH-46 ‘Phrog’ makes its last hop

Boeing photograph The CH-46 Sea Knight helicopter commonly known as the “Phrog,” is set to retire and to be flown one last time by Reserve Marine Medium Helicopter Squadron (HMM) 774 on Aug. 1. The CH-46 Sea Knight is a med...
 
 

Insitu awarded LRIP Lot IV RQ-21A Blackjack Systems contract

Under the terms of its latest contract, Insitu will build six RQ-21A Blackjack systems for the U.S. Navy and Marine Corps. The $78-million Small Tactical Unmanned Aircraft Systems Lot IV Low Rate Initial Production contract is the latest event in the program’s progression toward the Initial Operational Test and Evaluation phase.   “This award will...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>