Thomas Kennedy, executive vice president and chief operating officer at Raytheon (NYSE: RTN) since April 2013, will serve as CEO of the defense technology maker starting on March 31.
William Swanson, CEO for 10 years and a 41-year company veteran, will retire from the chief executive role on that date and continue to serve as chairman of the board of directors, Raytheon said Tuesday.
Kennedy, a 33-year company veteran, has also been appointed to the board of directors as of Tuesday.
Vern Clark, lead director of Raytheon, said Kennedy will work to lead the company as it positions itself in both domestic and international markets.
As COO, Kennedy led Raytheon’s move to consolidate from having six businesses to four and currently oversees the Waltham, Mass.-based contractor’s day-to-day operations.
His career includes service as president of the integrated defense systems business, VP of the space and airborne systems business and other leadership roles for radar and electronic warfare system development programs.