L3 Technologies (NYSE: LLL) has announced an initiativeÂ toÂ split the New York City-based defense contractor’s electronic systems segment into two new business segments as part of a growth strategy thatÂ also involves multiple leadership transitions.
The companyÂ said Wednesday Todd Gautier, current president of L3’s precision engagement and training sector, will serveÂ as corporate senior vice president and president of the reorganized electronic systems segment.
Jeff Miller, president of L3’s integrated sensor systems business, will serveÂ as corporate SVPÂ and president of aÂ newly sensor systems segment comprised of theÂ integrated sensor systems, Â warrior systems, ocean systems and advanced programsÂ units.
“As we continue to successfully execute on our strategic growth plan, we believe itâs the right time to separate electronic systems into two segments to better pursue global market opportunities, ” said L3 Chairman and CEO Michael Strianese.
“This realignment is also expected to accelerate our organic growth and efficiency initiatives, and maximize our innovation, while increasing the value that we can provide to our customers and shareholders, ” Strianese added.
Curtis Brunson, executive VPÂ of corporate strategy and development, and Steve Kantor, senior VPÂ and president of the electronic systems segment, are due toÂ retire in the second quarter of 2017.
David Van Buren, a three-decadeÂ public and private sectorÂ veteran who joined L3 in 2012, Â and 20-year industry veteranÂ Heidi Wood will respectively take overÂ Brunsonâs responsibilities as corporate SVPÂ of program development and corporate SVP of strategy.
L3 does not expect the reorganization effort toÂ have an impact on fiscal 2017’s financial guidance.