Aerojet RocketdyneÂ (NYSE: AJRD) will combine its six business units into defense and space organizations as part of a corporate reorganization effort.
The company said Monday the future senior vice presidents of Aerojet Rocketdyne Inc.‘sÂ defense and space businesses will report directly to Eileen Drake, Â president and CEO of Aerojet Rocketdyne Holdings.
Warren Lichtenstein, chairman of the board of directors at Aerojet Rocketdyne, was also named by the board as executive chairman of the firm as part of the reorganization.
Drake, who was named in June 2015 as president and CEO of the rocket and missile propulsion maker, said the reorganization aims to streamline the companyâs business operations and increase âaccountability at the management level.â
SheÂ addedÂ Aerojet Rocketdyneâs defense business unit and Rocket Shop defense program will be based in Huntsville, Alabama, in order to leverage the headquartersâ proximity to Huntsville-based clients including the U.S. Army, Missile Defense Agency, NASA, RaytheonÂ (NYSE: RTN), Boeing (NYSE: BA) and Lockheed MartinÂ (NYSE: LMT).
Samantha Masunaga also reports for the Los Angeles Times that Aerojet Rocketdyne Holdings will also transfer its corporate headquarters in California from Rancho Cordova to El Segundo over the next two months.
The report said Glenn Mahone, a spokesman for Aerojet Rocketdyne, indicatedÂ the company will initially move approximately 25 employees to its office in El Segundo, where customers Raytheon and Boeing also operate.
âWe want to be close to our customers and be near them so that we can have various meetings, â Mahone told LA Times.