LOS ANGELES
, Sept. 16, 2004 -- Northrop Grumman Corporation (NYSE:NOC)
today announced that its Board of Directors has elected
C. Michael Petters as corporate vice president and
president of the company's Newport News sector, succeeding
Thomas C. Schievelbein, 51, who has elected to take
early retirement.
Petters
will assume his new position on Nov. 1, 2004. He will
report to Ronald D. Sugar, Northrop Grumman's chairman,
chief executive officer and president.
Petters,
44, currently serves as the sector's vice president
of human resources, administration and trades, and
most recently was instrumental in the successful collective
bargaining agreement between the company and the United
Steelworkers of America. During his 17 years with
the company, he has held increasingly responsible
management positions including production manager
for submarines, marketing manager for submarines and
for carriers, vice president for aircraft carrier
programs, and vice president for contracts and pricing.
"Mike's
experience in heading vital sector functions makes
him an ideal choice to lead the Newport News sector
in the years ahead," said Sugar. "He brings
thorough knowledge and critical nuclear shipbuilding
experience to his new position. Mike will be an excellent
addition to my senior leadership team."
Sugar added,
"We thank Tom for his eight years of leadership
of the shipyard's operations. Tom was key to Northrop
Grumman's successful integration of the sector into
the overall corporation following our purchase of
Newport News in 2001. The sector has been an outstanding
performer under his stewardship. We will miss his
expertise, but we respect his wish to take early retirement.
We wish him and his wife Betty the very best."
"I've
had the great privilege of running the operations
at Newport News for five years and then leading the
entire sector for the past three years as part of
Northrop Grumman," said Schievelbein. "It's
been a wonderful experience and I thank Northrop Grumman
for the opportunity; however, I've decided it's time
to begin the next chapter of my life, which will include
spending more time with my wife and pursuing some
of my personal interests."
Petters
joined Newport News Shipbuilding in 1987 in the submarine
construction division. He has held a number of increasingly
responsible positions throughout the organization.
Petters graduated from the U.S. Naval Academy in 1982
with a bachelor's degree in physics. He served as
an officer aboard the USS George Bancroft
before joining the Naval Reserve in 1988. He earned
an MBA from the College of William and Mary in 1993.
Northrop
Grumman Newport News, headquartered in Newport News,
Va., is the nation's sole designer, builder, and refueler
of nuclear-powered aircraft carriers and one of only
two companies capable of designing and building nuclear
powered submarines. Newport News also provides after-market
services for a wide array of naval and commercial
vessels. The Newport News sector employs about 19,000
people.
Northrop
Grumman Corporation is a global defense company headquartered
in Los Angeles, Calif. Northrop Grumman provides technologically
advanced, innovative products, services and solutions
in systems integration, defense electronics, information
technology, advanced aircraft, shipbuilding and space
technology. With 125,000 employees, and operations
in all 50 states and 25 countries, Northrop Grumman
serves U.S. and international military, government
and commercial customers.
