“On behalf of the board, I would like to express our deepest appreciation for Bill’s strong leadership and sound judgment as chairman of the Raytheon Board, ” said Adm. Vern Clark, lead director of Raytheon.
Swanson, who joined Raytheon in 1972, has also served as Raytheon’s CEO from July 2003 to March 2014 before Kennedy succeeded him in that role.
Kennedy previously served as executive vice president and chief operating officer of Raytheon from April 2013 to March 2014.
The 31-plus-year Raytheon veteran joined the board in January 2014.
“The board is looking forward to working with Tom as chairman of the board and to his successful leadership of the company in this dynamic global business environment, ” said Clark.