Raytheon Co. taps new CEO

Raytheon Co. has named Thomas A. Kennedy chief executive officer, effective March 31, 2014.

Kennedy replaces current CEO William H. Swanson, who has led the company since 2003, and who is stepping down to retire.

After March, Swanson will continue to serve as chairman of the board while the company completes the CEO transition. Kennedy will pick up as chairman on Jan. 15, 2015.

Kennedy has had a more-than-30 year career with the company, most recently serving as executive vice president and chief operating officer since April 2013. In that role, he led the consolidation of Raytheon’s six businesses to four to enhance productivity, agility and affordability.

Before becoming executive vice president and chief operating officer, Kennedy served as vice president and president of Raytheon Integrated Defense Systems. He has also served as vice president of the company’s Space and Airborne Systems business.

"Raytheon is well-positioned both domestically and internationally, and with Tom's experience, we are confident that he will lead our Company successfully in this dynamic global business environment,” said Admiral Vern Clark, lead director of Raytheon Co.

Kennedy holds a bachelor’s degree in engineering from Rutgers University, a master’s degree in electrical engineering from the Air Force Institute of Technology, and a doctorate degree in engineering from the University of California, Los Angeles.