Sugar announces retirement from Northrop Grumman

President and COO Wesley Bush tapped as successor

Ronald Sugar will step down as chairman and chief executive officer of Northrop Grumman Corp. effective Dec. 31, 2009. He will be succeeded by Wesley Bush, currently president and chief operating officer.

Sugar will assume the title of chairman emeritus effective Jan. 1, 2010, and will formally retire from the company the following June, after 29 years of service with Northrop Grumman and its predecessor companies, an announcement made Sept. 16 said.

Bush immediately joins the Northrop Grumman board, which also elected Lewis Coleman, currently the lead independent director, to the role of non-executive chairman, effective Jan. 1, 2010.

Sugar’s resignation as chairman, CEO and member of the board of directors is designed to facilitate an orderly transition, the announcement said. Sugar will continue as an employee officer advising the company until his actual retirement date.

During Sugar’s tenure as CEO, Northrop Grumman effectively integrated multiple acquired companies as it developed systems and technologies critical to the nation’s security, the announcement said.

The company also expanded sales from $26 billion to nearly $35 billion to become the nation’s second largest defense company by revenue. During this time, Northrop Grumman also strengthened its balance sheet to achieve the highest credit rating in the company’s history.

Sugar, 61, joined Northrop Grumman following its acquisition of Litton Industries. He previously held executive positions at TRW Inc.

Bush, 48, joined the company in 1987, and rose to positions of increasing responsibility, including serving as sector president, chief financial officer, and most recently president and chief operating officer.

Northrop Grumman, of Los Angeles, ranks No. 3 on Washington Technology’s 2009 Top 100 list of the largest federal government prime contractors.

About the Author

David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close
SEARCH
 Top 100 Slideshow
contracts DB

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Read More

  • Is SBA MIA on contractor fraud? Nick Wakeman

    Editor Nick Wakeman explores the puzzle of why SBA has been so silent on the latest contractor fraud scandal when it has been so quick to act in other cases. Read More

Webcasts