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Raytheon chairman to retire, CEO Kennedy to assume role

Raytheon chairman William Swanson has announced his retirement effective September 30, 2014. Thomas Kennedy will take his place as chairman of the board effective October 1, 2014.

Swanson has been chairman since 2004. He also served as the company’s CEO from July 2003 to March 2014. After Swanson stepped down from being CEO, Kennedy took his place. Before that, Kennedy served as executive vice president and chief operating officer.

Swanson joins an apparent generational leadership shift at major defense and IT contractors as several leaders of the largest companies in the market have announced their retirement over the last two years, including Lockheed Martin, General Dynamics, Computer Sciences Corp., BAE Systems, Leidos, DynCorp International, American Systems Corp. and Unisys.

About the Author

Mark Hoover is a senior staff writer with Washington Technology. You can contact him at mhoover@washingtontechnology.com, or connect with him on Twitter at @mhooverWT.

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