L3 Technologies (NYSE: LLL) has announced an initiative to split the New York City-based defense contractor’s electronic systems segment into two new business segments as part of a growth strategy that also involves multiple leadership transitions.
The company said Wednesday Todd Gautier, current president of L3’s precision engagement and training sector, will serve as corporate senior vice president and president of the reorganized electronic systems segment.
Jeff Miller, president of L3’s integrated sensor systems business, will serve as corporate SVP and president of a newly sensor systems segment comprised of the integrated sensor systems, warrior systems, ocean systems and advanced programs units.
“As we continue to successfully execute on our strategic growth plan, we believe it’s 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 VP of corporate strategy and development, and Steve Kantor, senior VP and president of the electronic systems segment, are due to retire in the second quarter of 2017.
David Van Buren, a three-decade public and private sector veteran who joined L3 in 2012, and 20-year industry veteran Heidi Wood will respectively take over Brunson’s responsibilities as corporate SVP of program development and corporate SVP of strategy.
L3 does not expect the reorganization effort to have an impact on fiscal 2017’s financial guidance.