Tag Archives: bae systems inc

The CEOs of eight defense contractors wrote separate letters to the White House and the Department of Defense saying that the money sourced from DoD’s budget to help companies retain highly skilled employees during the COVID-19 pandemic should be replaced with new funds to prevent military modernization programs from being jeopardized, Reuters reported Thursday.

Ann Ackerson, a more than three-decade supply chain management and procurement professional, will assume the role of global chief procurement officer at BAE Systems’ U.S. subsidiary on May 4.

United Technologies Corp. (NYSE: UTX) and Raytheon (NYSE: RTN) have set the closure date of their all-stock merger for Friday, April 3, after securing all the regulatory clearances needed to close the transaction. According to a joint statement, the combined company will operate as Raytheon Technologies and trade under the “RTX” ticker symbol on the New York Stock Exchange.

The Department of Justice has given United Technologies Corp. (NYSE: UTX) and Raytheon (NYSE: RTN) an antitrust approval to proceed with their proposed merger through an all-stock transaction, Reuters reported Friday. A DOJ notice posted Thursday says the approval comes with a proposed settlement that requires both companies to divest to a U.S. approved-buyer Raytheon’s airborne tactical radios business and UTC’s military GPS business and its large space-based optical systems unit to maintain competition.

The European Commission approved United Technologies Corp.’s (NYSE: UTX) planned $121B merger with Raytheon (NYSE: RTN), Reuters reported Friday.

Ravi Ravichandran, a technology industry veteran, has been appointed vice president and chief technology officer for the intelligence and security sector at BAE Systems’ U.S. subsidiary.

BAE Systems’ U.S. subsidiary has agreed to acquire two businesses that are being divested in order for United Technologies Corp. (NYSE: UTX) and Raytheon (NYSE: RTN) to secure the required antitrust approval for their pending merger.

Tom Arseneault, president and chief operating officer of BAE Systems’ U.S. subsidiary and a former Wash100 Award recipient, has been appointed to take a new dual role as president and CEO beginning on April 1. He will succeed Jerry DeMuro, who assumed the chief executive position in 2014 and a 2019 Wash100 winner.

BAE Systems’ U.S. subsidiary has completed its purchase of Plymouth, Mass.-based unmanned underwater vehicle provider Riptide Autonomous Solutions for an undisclosed sum. BAE Systems Inc. said Monday its electronic systems sector will absorb Riptide staff primarily to support the FAST Labs organization, which develops technological offerings for use in defense, security and aerospace domains.

Tom Arseneault, chief operating officer of BAE Systems’ U.S. arm, has assumed additional duties as president of the subsidiary. He was also named to the board of directors of BAE Systems Inc. and will assume functional leadership responsibilities, the company said Thursday. “Tom has a proven track record leading complex …