Northrop Grumman Corporation (NYSE: NOC) has announced some significant leadership changes, with two key executives set to retire and successors already named to take over their roles. Dave Keffer, the corporate vice president and chief financial officer, is retiring effective February 21, 2025, while Mark Caylor, corporate vice president and president of mission systems, will retire effective July 26, 2024.
Kenneth B. Crews, the vice president of business management and chief financial officer for the space systems sector, has been elected to succeed Keffer as the new chief financial officer effective October 1, 2024. Roshan Roeder, corporate vice president and president of defense systems, will take over from Caylor as the president of mission systems effective July 1. Additionally, Ben Davies, currently corporate vice president and general manager of the strategic deterrent systems (SDS) division in space systems, will succeed Roeder as the president of the defense systems sector.
The company's Chair, CEO, and President, Kathy Warden, expressed her excitement in welcoming these internal leaders to the executive leadership team, emphasizing the strength of the company's extended leadership team and commitment to succession planning.
Crews, who will take over as CFO, previously served as CFO for mission systems and has been with Northrop Grumman since 2004. Roeder, who will assume the role of president of mission systems, has been with the company for 22 years, while Davies, the incoming president of defense systems, has a 26-year career with Northrop Grumman.
Northrop Grumman has reaffirmed its 2024 financial guidance as previously shared during the last quarterly earnings call on April 25, indicating confidence in its performance and outlook for the year.
It's important to note that Northrop Grumman is a leading global aerospace and defense technology company, known for its pioneering solutions that equip customers with capabilities for connectivity, protection, and human exploration.
These leadership changes and reaffirmation of financial guidance demonstrate Northrop Grumman's commitment to seamless transitions and continued strong performance in the aerospace and defense industry. As a result of these announcements, the company's shares have moved 0.2% on the market, and are now trading at a price of $470.82. If you want to know more, read the company's complete 8-K report here.
