In conjunction with the business consolidation, Swanson announced new roles for members of the Raytheon Leadership Team, including:
Daniel J. Crowley has been named president, Raytheon Integrated Defense Systems (IDS), succeeding Kennedy. Headquartered in Tewksbury, Mass., IDS will now include two new product lines: C4I Systems and Air Traffic Management. The expanded business had annual external sales 1 of approximately $6 billion in 2012.
Lynn A. Dugle has been named president of the newly-formed Raytheon Intelligence, Information and Services (IIS) business. John D. Harris II, formerly president of Raytheon Technical Services Company LLC (RTSC), has been named vice president and general manager of the new business, reporting to Dugle. IIS combines the operations of the former Intelligence and Information Systems business, based in Garland, Texas, and RTSC, based in Dulles, Va. The combined business had annual external sales 1 of approximately $5.5 billion in 2012.Dr. Taylor W. Lawrence continues to lead Raytheon's Missile Systems (RMS) business based in Tucson, Ariz. The expanded business will now include Combat & Sensing Systems, along with Raytheon UK. The combined business had annual external sales 1 of approximately $6.5 billion in 2012. Richard R. Yuse continues to lead Raytheon's Space and Airborne Systems (SAS) business based in El Segundo, Calif. The expanded business, with 2012 annual external sales 1 of approximately $6 billion, will now include Integrated Communication Systems and Advanced Programs.
Financial Impact The consolidation is not expected to have any impact on the company's 2013 financial guidance. The company anticipates a reduction in workforce of approximately 200 employees related to this effort and annualized cost savings of approximately $85 million. 1 External sales exclude sales between segments, which were $2 billion in 2012 and are eliminated in the consolidated results. Executive Biographies Dr. Thomas A. Kennedy , Raytheon Company executive vice president and chief operating officer, previously served as president of Raytheon Integrated Defense Systems (IDS). Prior to his leadership role at IDS, Kennedy served as vice president at Space and Airborne Systems (SAS) where he oversaw the strategy and operations for Tactical Airborne Systems. He was previously vice president for mission systems integration at SAS with responsibility for the UK Ministry of Defence's Airborne Stand-Off Radar program. Earlier in his career, he led new business and program activities for several radar and electronic warfare systems development programs. A former captain in the U.S. Air Force, 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. Daniel J. Crowley , Raytheon Company vice president and president, Raytheon Integrated Defense Systems, joined Raytheon in 2010 as president of the company's Network Centric Systems (NCS) business. Crowley has 29 years in the aerospace and defense industry, including roles on key military programs such as Trident II Fleet Ballistic Missile, Atlas/Titan launch vehicles, classified and commercial spacecraft, Terminal High Altitude Area Defense (THAAD), and the F-35 Joint Strike Fighter. He also held senior roles in business development, training, logistics and simulation. Crowley holds a bachelor's degree in mechanical engineering and a master's degree in manufacturing systems engineering from the University of Texas at Austin. He also received a master's degree in management from Stanford University as a Sloan Fellow. Lynn A. Dugle , Raytheon Company vice president and president, Raytheon Intelligence, Information and Services (IIS), previously served as president of Raytheon's Intelligence and Information Systems business. Dugle has held officer-level positions within the telecommunications industry, including international assignments to lead teams in Europe, Asia-Pacific and Latin America. Her career has included increasingly senior roles in quality, manufacturing operations, supply chain management, financial analysis and strategic planning. A member of the Intelligence and National Security Alliance (INSA) Board of Directors, Defense Science Board and the CyberPatriot Board of Advisors, Dugle holds bachelor's degrees in technical management and Spanish from Purdue University. Dugle also holds a master of business administration degree from the University of Texas at Dallas.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV