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MANAGEMENT ON THE MOVE

22 Dec 03. Meggitt has asked Stephen Young, a former Thistle Hotels finance director, to step into the gap left by Chris Rickard, who announced his departure in October. Mr Young, whose other previous roles have included finance director of the Automobile Association and financial controller of Thorn EMI, is due to become group finance director and join the board on January 1. Terry Twigger, chief executive of Meggitt, which has recently turned its focus towards the military side of its operations, said Mr Young brought a wealth of experience from different sectors. (Source: FT)

05 Dec 03. The Lockheed Martin Board of Directors elected Maryanne R. Lavan a corporate vice president, effective immediately. Lavan was recently promoted to the position of vice president, Ethics and Business Conduct, for the corporation. Lockheed Martin’s Board of Directors met on Dec. 4. In her new position, Lavan is responsible for overseeing corporate-wide efforts to promote a positive, ethical work environment for all employees and to support business practices that foster trust and confidence among customers, suppliers, shareholders, and local community members. Lavan joined Lockheed Martin in 1990 and has served as assistant general counsel for litigation and compliance and most recently as vice president and general counsel for the Electronic Systems business area.

16 Dec 03. Northrop Grumman Corporation announced the addition of two members to its board of directors. Kevin Sharer, chairman of the board and chief executive officer of Amgen Inc., and J. Michael Cook, retired chairman and chief executive officer of Deloitte & Touche, LLP, were elected today to Northrop Grumman’s board. The company’s board now totals 13 members, 11 of whom are non-employee
directors.

03 Dec 03. CAE has named Ulrich Aderhold the managing director of CAE GmbH. In this position, Aderhold will be responsible for CAE’s military simulation and training business based in Stolberg, Germany. Aderhold will replace Dieter Wolf, who is retiring after 35 years of service with CAE.

22 Dec 03. DRS Technologies, Inc. announced that its board of directors voted to increase the number of directors on the company’s board from ten to eleven and to elect Robert B. McKeon, president and founder of Veritas Capital Management, LLC, a New York-based private equity investment firm, to fill the vacancy. Mr. McKeon will serve as a Class I director for a term expiring at DRS’s 2005 annual meeting. Mr. McKeon was chairman of the board of directors of Integrated Defense Technologies, Inc. (IDT) from June 1998 through November 4, 2003, when IDT was acquired by DRS. He founded Veritas Capital Management, LLC in 1992 with a group of investors and has continued to serve as a managing director since its formation.

22 Dec 03. Supacat Ltd announced the sudden death of its joint founder, David Clayton yesterday; we offer all our condolences to his family and the company.

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