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 September 15, 2014

News: Navy identifies pilot presumed dead in crash - A Navy fighter pilot presumed dead after two fighter jets crashed in the far western Pacific Ocean has been identified.   Business: Boeing eyes 737-700 solution for new JSTARS - Boeing is officially planning a variant of its 737-700 commercial jetliner as a competitor for the Air Force’s...
 
 

News Briefs September 15, 2014

Australia contributing planes for anti-IS campaign Australia is preparing to contribute 600 troops and up to 10 military aircraft to the increasingly aggressive campaign against the Islamic State extremists in Syria and Iraq, Prime Minister Tony Abbott said Sept. 14. Abbott said Australia was responding to a formal request from the United States for specific...
 
 
Courtesy graphic

Lockheed Martin conducts flight tests of aircraft laser turret for DARPA

AFRL photograph The Aero-adaptive Aero-optic Beam Control turret that Lockheed Martin is developing for the Defense Advanced Research Projects Agency and the Air Force Research Laboratory has completed initial flight testing. T...
 

 

Lockheed Martin advances live, virtual, constructive training in flight test

https://www.youtube.com/watch?feature=player_embedded&v=jvXmOW8L3mU Lockheed Martin successfully tested a new solution for integrated live, virtual and constructive training during a flight demonstration at the company’s Aeronautics facility in Fort Worth, Texas. During the flight test, a pilot flying in a live F-16 engaged in a synthetic training exercise with a pilot flying as wing...
 
 
Image courtesy of NASA/JPL-Caltech/Univ. of Arizona

NASA’s Mars Curiosity rover arrives at Martian mountain

NASA’s Mars Curiosity rover has reached the Red Planet’s Mount Sharp, a Mount-Rainier-size mountain at the center of the vast Gale Crater and the rover mission’s long-term prime destination. “Curiosity n...
 
 

Raytheon begins full rate production on TALON Laser Guided Rockets

Under a $117 million contract awarded to Raytheon, Raytheon Missile Systems has begun production of the TALON Laser Guided Rocket. In 2013, the Armed Forces General Headquarters of the United Arab Emirates awarded Tawazun a contract to procure the TALON Laser Guided Rocket. “Full rate production of the TALON LGR is a significant milestone for...
 




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=""> <strike> <strong>