Ken Bedingfield to Succeed James Palmer as CFO, Corporate VP

Kenneth Bedingfield
Kenneth Bedingfield Ken Bedingfield, currently vice president of corporate finance at Northrop Grumman (NYSE: NOC), has been elected by the board of directors to serve as corporate VP and chief financial officer. Bedingfield will assume his new positions following the company’s 2014 annual report and oversee financial planning, accounting, internal audit, treasury, contracts and pricing, trust...

Mark Caylor, Stephen Movius Add New Northrop Leadership Roles; Wes Bush Comments

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Mark Caylor Mark Caylor, a corporate vice president and president for enterprise shared services at Northrop Grumman (NYSE: NOC), has taken the additional role of chief strategy officer for the company. He adds corporate development and supply chain management to his work responsibilities and will continue to report directly to CEO Wes Bush, Northrop said Friday. Stephen Movius The company also announced...

Northrop to Acquire Australia’s Qantas Airways Defense Unit; Wes Bush Comments

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A Northrop Grumman Corp. (NYSE: NOC) subsidiary has reached an agreement to buy Qantas Airways’ defense business for an undisclosed amount as Northrop looks to further its international strategy. Northrop Grumman Australia Pty Ltd.’s acquisition of Qantas Defence Services Pty Ltd. could wrap up in 2014 after meeting several conditions, Northrop Grumman said Wednesday. Wes Bush, Northrop Grumman...

Northrop Board Approves New $4B Share Buyback Plan, Increases Dividend; Wes Bush Comments

Wes Bush
Wes Bush Northrop Grumman‘s (NYSE: NOC) board of directors has approved a plan to repurchase $4 billion of the company’s common stock with the goal of retiring nearly 25 percent of the company’s outstanding shares by the end of 2015. Northrop has 235 million shares outstanding as of March 31 and will use available cash balances and free cash flow to fund the repurchases, the company...

Northrop Increases Share Buyback Plan to $2B; Wes Bush Comments

Northrop Grumman‘s (NYSE:NOC) board of directors has approved an increase in the company’s outstanding share repurchase authorization to $2 billion in common stock, the company announced Wednesday. The company reported it had 248 million shares outstanding and $1.1 billion remaining on its share repurchase authorization as of June 30, 2012. Chairman, CEO and President Wes Bush said the...

Linda Mills to Oversee Northrop Operations; 4 Sector Presidents Named

Linda Mills Northrop Grumman Corp. (NYSE: NOC) has made a series of executive appointments as two of its sector presidents announced their intentions to retire, the company announced Tuesday. Check out our coverage on GovCon Executive for the related succession plans in the aerospace systems and electronic systems sectors. Each executive will report directly to President, Chairman and CEO Wes Bush...

Forbes Raves About ‘Virginia Mecca’ of Defense Contractors

Forbes.com recently sought out to answer why northern Virginia has become the mecca for military contractors. The publication identifies the 1991 migration of General Dynamics from St. Louis to Falls Church, Va., as the start of a domino effect that has seen the majority of the 20 largest U.S. military contractors centralizing in the area. Then company Chairman William Anders cited a relatively obvious...

Northrop Elects Former Wal-Mart EVP, CFO Thomas Schoewe to Board of Directors; CEO Bush Comments

Northrop Grumman (NYSE: NOC) has elected Thomas M. Schoewe, former executive vice president and chief financial officer of Wal-Mart Stores Inc., to its board of directors. Schoewe served those roles between 2000 and 2010. He previously was senior vice president and CFO for Black and Decker Corp. Schoewe also serves on the boards of directors of Kohlberg Kravis Roberts and Co. and PulteGroup Inc. Northrop’s...

Northrop President, CEO Wes Bush Named Board Chairman

Northrop Grumman‘s (NYSE: NOC) board of directors has elected company CEO and President Wes Bush as its chairman, effective immediately. Bush has served on the board since 2009. At Northrop, he has been president and chief operating officer, corporate vice president and chief financial officer and president of the former space technology sector. Bush’s predecessor Lewis W. Coleman will...

Boeing, Northrop to Release Quarterly Financial Results July 27

Northrop Grumman (NYSE: NOC) will announce its second-quarter 2011 financial results July 27, 2011. The company will hold a conference call that day at 11:30 a.m. EST, which will be webcast live on Northrop Grumman’s website. Participants will include President and CEO Wes Bush and CFO Jim Palmer. Boeing Company (NYSE: BA) will release its second-quarter 2011 financial results at 7:30...