BROWN NEW HEAD OF LITTON; VETERAN TO REPLACE RETIRING EXECUTIVE.Byline: Dave McNary Daily News Staff Writer Industrial conglomerate Litton Industries Named after inventor Charles Litton Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001. Inc. announced Friday its board had elevated its president, Michael Brown Michael or Mike Brown may refer to: In politics:
The move was not a surprise and reflected Litton policy that executive officers step down at the age of 65. Leonis, who retains the title of chairman, will turn 65 in October. The 57-year-old Brown, a 30-year veteran of Litton, became the heir apparent heir apparent n. the person who is expected to receive a share of the estate of a family member if he/she lives longer, or is not specifically disinherited by will. (See: heir) to Leonis in late 1995 when he became president, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and a board member. Leonis, who has been at Litton for 38 years, was named CEO in March 1994 when the company split itself in two by spinning off its oil-exploration services business as Western Atlas Inc. Since then, Litton has been focused on growing its electronics and shipbuilding businesses. It bought information technology specialist PRC Inc. in 1996 for $425 million and a pair of electronics firms - Teldix GmbH and Sperry Marine - for another $230 million, and plans to close a deal for information technology specialist TASC TASC The After School Corporation TASC The American Surrogacy Center TASC Treatment Accountability for Safer Communities TASC The Analytic Sciences Corporation TASC Transportation Administrative Service Center TASC Total Administrative Services Corporation Inc. from Primark next month. The Woodland Hills-based company, which has 32,100 employees worldwide, reported last month profits of $40.6 million on sales of $973.8 million for its second quarter ended Jan. 31. It also announced earlier this month its maritime unit, based in Pascagoula, Miss., had won a $2.8 billion contract to build eight guided-missile destroyers for the U.S. Navy. CAPTION(S): 2 Photos PHOTO (1--Color) Michael Brown Next CEO of Litton Industries (2--Color) John Leonis Will remain company chairman |
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