New CEO named at DRS Technologies

DRS Technologies has tapped William Lynn, a former deputy secretary of the Defense Department, to be its chairman and CEO as Mark Newman retires from those positions.

Finmeccanica Group, DRS Technologies’ parent company, made the announcement on Jan. 26.

The appointment is part of Finmeccanica’s strategy to strengthen its U.S. defense and security business, the company said.

Lynn resigned from the Pentagon in July. He’s also held executive positions with Raytheon Co. and served at the Pentagon during the Clinton administration.

At DRS, his task will be to reposition the company in light of shifting defense and security priorities, Finmeccanica said.

Lynn’s appointment took effect immediately.