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MANAGEMENT ON THE MOVE

19 Feb 03. Northrop Grumman Corp. named Ronald Sugar to succeed its long-time chief executive, Kent Kresa, who will step down when he reaches the company’s mandatory retirement age next month. Sugar has been Northrop’s president and chief operating officer since September 2001, and had been widely expected to be named Kresa’s replacement. The 54-year-old Sugar, who joined the No. 3 U.S. defense contractor when it bought technology and defense company Litton Industries Inc. in 2001, will assume the CEO post on April 1 and retain the title of president. Kresa will continue as non-employee chairman until Oct. 1, the company said. Kresa, 64, had spearheaded a slew of acquisitions at Northrop in his 13 years as CEO, including shipmaker Newport News Shipbuilding and, in December, a $6.7bn takeover of military electronics maker TRW Inc.

18 Feb 03. Northrop Grumman Corporation (NYSE: NOC – News) announced that Philip A. Odeen, a defense industry leader and former chairman of TRW Inc., has been elected to Northrop Grumman’s board of directors. Odeen’s appointment increases the company’s board to 12 directors. “Phil is a respected defense industry executive and thought leader and will be an excellent addition to Northrop Grumman’s board,” said Kent Kresa, Northrop Grumman chairman and chief executive officer. “Over the years, Phil has built an impressive track record in both business and government. Additionally, he brings a broad perspective encompassing both private and public sectors. We look forward to benefiting from his judgment and experience as we continue to pursue the strategic growth objectives of the company.”

18 Feb 03. TRL Technology Ltd, the UK-based radio and satellite communications systems specialist, announces the appointment today of Peter McKee as its new managing director. He joins the company following over 30 years’ tenure at Raytheon Systems Ltd, bringing a wealth of defence and government electronics expertise. Peter’s focus will be to build on TRL Technology’s track record for innovation – expanding the company’s existing product base and developing new markets, in line with its established reputation for providing defence and government organisations around the world with sophisticated intelligence-gathering tools.

12 Feb 03. The Board of Directors of ITT Industries, Inc. (NYSE: ITT – News) has elected Steven F. Gaffney to Vice President of the corporation. Gaffney is Vice President of the company’s Value-Based Six Sigma, developing strategy, policy, objectives and plans to integrate the company’s continuous improvement initiative into all of ITT’s operations. He has held this position since October 2002.

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