LEXINGTON, Mass., July 1 /PRNewswire-FirstCall/ --
William H. Swanson, a 31-year veteran of Raytheon Company (NYSE: RTN), became
chief executive officer and president of the Company today. He also has been
elected to the board of directors.
Swanson, 54, has been president of Raytheon since July 2002 and succeeds
Daniel P. Burnham, 56, who served as Raytheon's chairman and chief executive
officer since July 1999. Burnham will remain chairman of the board for a
period of time. Burnham announced his intention to step down as chief
executive officer at Raytheon's annual shareholder's meeting on April 23.
"I'm honored to lead this company," said Swanson. "Those that know me,
know that I have a real passion for our customers, employees and for the
business."
Prior to becoming president in July 2002, Swanson was an executive vice
president of Raytheon and president of the former Electronic Systems, an $8
billion defense electronics business. During his tenure with Raytheon, he has
held a wide range of challenging positions, including manufacturing manager of
the company's Equipment Division, senior vice president and general manager of
the Missile Systems division and chairman and chief executive officer of
Raytheon Systems Company.
Burnham joined Raytheon on July 1, 1998, as president and chief operating
officer and was appointed chief executive officer in December 1998 and
chairman in August 1999.
Raytheon Company, with 2002 sales of $16.8 billion, is an industry leader
in defense, government and commercial electronics, space, information
technology, technical services, and business and special mission aircraft.
With headquarters in Lexington, Mass., Raytheon employs more than 76,000
people worldwide.
Contact:
James Fetig
781.860.2386
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
James Fetig for Raytheon Company,
+1-781-860-2386
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