Ron Sugar News

U.S. Coast Guard Commandant Adm. Thad Allen met last week with chief executive officers from Lockheed Martin Corp. (LMT) and Northrop Grumman Corp. (NOC) to discuss his agency's $24b modernization program, which has struggled with rising costs and technical difficulties. Lockheed Martin CEO Robert Stevens and Northrop Grumman CEO Ron Sugar met with Allen to talk about the Deepwater program's new management plan, the Coast Guard said. The Deepwater program is a 25-year effort to replace a wide variety of aging ships and aircraft. Costs have ballooned from the original $17b estimate, and critics have said the program's shipbuilding troubles show that the Coast Guard isn't equipped to manage such a big project.

The Navy’s newest and most sophisticated nuclear-powered aircraft carrier, USS Ronald Reagan (CVN 76), was commissioned July 12, 2003 at the Norfolk Naval Station in Norfolk, Va. Named after America's 40th president, Reagan is the ninth Nimitz-class aircraft carrier built by Northrop Grumman Newport News and the first carrier named for a living president. The keynote speaker for the commissioning ceremony was Vice President of the United States, Dick Cheney. Mrs. Ronald Reagan also attended the ceremony and served as the ship’s sponsor. Other ceremony participants included Virginia Governor Mark Warner, Virginia Senator John Warner, Acting Secretary of the Navy Hansford Johnson, Chief of Naval Operations Admiral Vern Clark, and Northrop Grumman Newport News President Tom Schievelbein.

Northrop Grumman Corporation announced today that its board of directors has elected Ronald D. Sugar, the company's president and chief operating officer, as Northrop Grumman's next chief executive officer. nation's second largest defense contractor effective April 1, 2003. president. age of 65 for senior executives. until Oct. 1, 2003. understanding of our business, our strategy and our potential," said Kresa. Industries, Ron and I have worked closely together. commitment to excellence. look forward to leading Northrop Grumman. lifetime. sheet. vision and leadership he provided over the past decade. past 13 years has been one of the most rewarding experiences of my life. defense companies in the world. we have a wonderful future ahead of us.

Northrop Grumman Chairman and CEO Ron Sugar said in a visit to the Newport News shipyard Tuesday that the yard has made improvements in meeting cost and deadline targets. The yard's performance on aircraft carriers and submarine construction contracts has become an issue, with costs having risen both on Virginia class submarines and the George H.W. Bush aircraft carrier. Improving such performance has been a priority of shipyard President Mike Petters, who's been on the job since last year. "We're in the middle of a great trend here," Sugar said on the flight deck of the USS George Washington aircraft carrier. "Is there room for improvement? Of course.