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Trw Automotive News

08 Jul 2022

Klein Appointed Chairman, CEO of ZF Friedrichshafen

Dr. Holger Klein (52) will take up the post of Chairman and CEO of ZF Friedrichshafen AG at the turn of the end of 2022. Photo courtesy ZF Friedrichshafen AG

Dr. Holger Klein, Member of the Board of Management responsible for the Asia-Pacific region, Car Chassis Technology Division, Aftermarket and Production, will succeed Wolf-Henning Scheider as Chairman and CEO of ZF Friedrichshafen AG at the end of 2022.At the same time, Dr. Peter Laier will join the Board of Management to lead the Commercial Vehicle Solutions (CVS) and Industrial Technology divisions succeeding Wilhelm Rehm. ZF Chief Financial Officer Dr. Konstantin Sauer will leave the company by the end of 2022 after many years of service.

24 Feb 2022

HII Promotes Hughes and Jacobs

Edmond Hughes (Photo: HII)

Global engineering and defense technologies provider Huntington Ingalls Industries (HII) announced today the promotion of Edmond Hughes to executive vice president and chief human resources officer. Hughes, formerly the vice president of human resources and administration contracts at HII’s Ingalls Shipbuilding division and at Northrop Grumman Shipbuilding since 2006, will replace William “Bill” R. Ermatinger, who will retire on April 1 after 35 years of service. HII also appointed Susan Jacobs to replace Hughes as the vice president…

08 Oct 2019

Konecranes Appoints New CEO and President

Konecranes, which specialises in the manufacture and service of cranes and lifting equipment, has appointed a new president and CEO, Rob Smith, who will take over his new role as of February 1, 2020.As of today, the Finnish company's CFO, Teo Ottola, who also serves as Deputy CEO, will be acting as the interim CEO until Rob Smith starts in the position."Konecranes has concluded the integration following the MHPS acquisition that took place almost three years ago. The company is now ready for the next phase in its development, and for that I am pleased to extend a warm welcome to Rob Smith, who is a global leader with a track record in achieving market leadership positions through innovative business strategies…

27 Jul 2018

ZF Appoints New Board Members

Dr. Holger Klein (Photo: ZF)

ZF Friedrichshafen AG's Supervisory Board has appointed Sabine Jaskula and Dr. Holger Klein to the company's Board of Management.Jaskula, an experienced HR manager and lawyer, will be responsible for Corporate HR and Legal functions from latest January 1, 2019. In this function, she will also be in charge of compliance. Dr. Klein has been appointed to ZF's Board of Management with effect from October 1, 2018. His responsibilities will include Car Chassis Technology and Aftermarket (service and parts business).

01 Jul 2002

Northrop Grumman To Acquire TRW for $60 per Share in Stock

Northrop Grumman Corporation and TRW Inc. jointly announced that they have entered into a definitive merger agreement. The combination will position Northrop Grumman as the nation's second largest defense contractor with projected annual revenues of more than $26 billion and approximately 123,000 employees. Following the separation of TRW's automotive business and completion of the sale of TRW's Aeronautical Systems business, Northrop Grumman will be a Fortune 100 company. Under the terms of the agreement, unanimously approved by the boards of directors of both companies, Northrop Grumman will acquire TRW for $60 per share in common stock in a transaction valued at approximately $7.8 billion, plus the assumption of TRW's net debt at the time of closing.

26 Apr 2006

Northrop Grumman Posts Lower 1Q Profit

According to the AP, Northrop Grumman Corp. posted a lower first-quarter profit as revenue declined and gains from a stock sale boosted last year's results. The company also maintained its forecast for double-digit profit growth in 2006. Income slid to $358 million, or $1.02 per share, for the January-March period, from $409 million, or $1.11 per share, the previous year when the company gained $56 million from selling its Teldix aircraft parts unit and the sale of stock in TRW Automotive Holdings Corp. Excluding last year's gains, earnings from continuing operations were $357 million, or $1.02 per share, versus $398 million, or $1.08 per share, last year. Northrop said its shipbuilding business hurt its overall revenue, which fell 4 percent to $7.18 billion from $7.45 billion a year ago.

25 Apr 2006

Northrop Grumman Reports 1Q Results

share, for the same period of 2005. share, from the sale of TRW Automotive common stock. to lower sales in the company's Ships business. from Information & Services, Aerospace and Electronics. At Ships, we continue to progress toward pre-Katrina production levels," said Ronald D. Sugar, Northrop Grumman chairman, chief executive officer and president. The company's first quarter 2006 segment operating margin increased to $644 million from $638 million in first quarter of 2005. First quarter 2006 segment operating margin reflects higher operating margin in Information & Services, Electronics and Aerospace, partially offset by lower operating margin in Ships.

29 Apr 2003

Northrop Grumman Reports First Quarter Results

Northrop Grumman Corporation, reported that sales increased 49 percent, earnings from continuing operations increased 17 percent, and segment operating margin increased 44 percent, for the 2003 first quarter compared with the first quarter of 2002. The record results, in large measure, reflect strong contributions by the company's two new segments, Mission Systems and Space Technology; double-digit growth in sales and operating margins at three other segments, Electronic Systems, Ships and Information Technology; and a lower effective tax rate. Northrop Grumman reported income from continuing operations of $174 million, or $0.91 per share, compared with $149 million, or $1.27 per share, for the same period of 2002.

22 Feb 2002

Northrop Grumman Proposes to Acquire TRW

Northrop Grumman Corporation announced that it has forwarded a proposal to TRW's board of directors to enter into negotiations to combine the two companies. The proposed transaction would deliver $47 in value of Northrop Grumman common stock for each share of TRW. Ronald D. Sugar, Northrop Grumman's president and chief operating officer, stated "this transaction would strengthen our portfolio, and would bring together the advanced technologies and extraordinary human talent of both companies. Promptly following the close of the transaction, Northrop Grumman would expect to separate TRW's automotive business. Excluding TRW's automotive business, Northrop Grumman projects combined 2003 sales of approximately $26 billion to $27 billion.