Northrop Grumman Corporation (NYSE: NOC) announced several structural actions to strengthen alignment with its customers, improve the company's program performance and growth potential, and enhance its cost competitiveness. These actions, effective immediately, include streamlining its organizational structure, reducing the number of sectors from seven to five.
The five sectors will be Aerospace Systems; Electronic Systems; Information Systems; Shipbuilding; and Technical Services. "These actions are critical steps in shaping our future," said Ronald D. Sugar, Northrop Grumman chairman and chief executive officer. "Key to our success is the early anticipation of changes in our markets, and then the adjustment of our business structure to better position us to address our customers' needs and improve our competitiveness. These actions build on last year's realignment of our shipbuilding business into a single sector and the establishment of a centralized Enterprise Shared Services organization."
In merging the Integrated Systems and Space Technology sectors, Northrop Grumman creates an approximately $10b business, which is a premier provider of manned and unmanned aircraft, space systems, missile systems and advanced technologies critical to our nation's security. Gary W. Ervin, currently corporate vice president and president of the Integrated Systems sector, will lead Northrop Grumman Aerospace Systems, bringing nearly thirty years of aerospace experience, from both within Northrop Grumman and outside the company.
(www.northropgrumman.com)