REDONDO BEACH, Calif., March 7, 2013 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC) announced that it has appointed Kenneth L. Bedingfield vice president of business management and chief financial officer for its Aerospace Systems sector.
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Bedingfield will take over the position currently held by Chuck Wands, who has announced his plans to retire later this year.In his new role, Bedingfield will lead business management at the Aerospace Systems sector and ensure the integration of sector financial and business strategies in support of corporate objectives. Bedingfield comes to this position from Northrop Grumman's corporate headquarters, where he held the position of corporate vice president, controller and chief accounting officer. In this role, he was a key financial advisor to the corporate vice president and chief financial officer and the company's senior management, and led all aspects of corporate accounting operations. Prior to joining Northrop Grumman, he spent more than 17 years at KPMG LLP, most recently as the national client leader of its U.S. aerospace and defense audit practice. "The defense industry faces unprecedented fiscal challenges at a time when the threats to our nation and allies are increasing, which creates a situation that demands aggressive financial and program performance," said Tom Vice, corporate vice president and president of Northrop Grumman Aerospace Systems. "Chuck distinguished himself as an exemplary financial expert, consistently guiding us to exceed our own expectations. I'm confident that Ken's experience and knowledge will enable our sector to continue to perform well even in this environment."