? William Swanson, Raytheon’s board chairman, will retire on Sept. 30 after more than 10 years in that position, announced the company on Monday. Thomas Kennedy, the company’s chief executive officer, will replace him. Swanson has been with Raytheon since 1972 and has served in a wide range of leadership positions, becoming chairman in January 2004. He also served as chief executive officer from July 2003 until this March, when Kennedy took over in that role. Kennedy, 59, has been with Raytheon for 31 years, moving up through a series of leadership posts, including president of Raytheon Integrated Defense Systems. Vern Clark, Raytheon’s lead director, expressed the board’s “deepest appreciation” for Swanson’s strong leadership and his “dedicated service and exceptional contributions” to the company. Clark noted that the board is looking forward to working with Kennedy as chairman and to “his successful leadership of the company in this dynamic global business environment.”
Lockheed Martin projects more than a billion dollars of losses on a classified program, but company officials said April 23 they are confident it will turn profitable by 2028 and become a "franchise" system in the U.S. military.