Seven businesses organized to align more closely with customers,
focus on growth
LEXINGTON, Mass., Aug. 30 /PRNewswire-FirstCall/ --
Raytheon Company (NYSE: RTN) has realigned its government and defense
organization to form seven businesses that are focused on customer
satisfaction and positioning the company for growth. The new businesses were
created by combining units of the former Electronic Systems (ES) and Command,
Control, Communication and Information Systems (C3I). They will each be headed
by leaders who report to Raytheon Company President William H. Swanson.
On July 16 the company announced its plan to establish a new
organizational structure for its government and defense portfolio by the end
of August.
"This new, leaner government and defense structure will enhance our
alignment with customers," said Daniel P. Burnham, chairman and chief
executive officer of Raytheon Company. "It also eliminates layers and cost
and will enable us to move with greater speed and agility."
"We formed this new structure to create superior solutions for our
customers and achieve the operational excellence that leads to growth," said
Swanson. "These businesses will help to move us closer to realizing our
vision of becoming the most admired defense and aerospace systems supplier
through world-class people and technology."
The company will also continue to emphasize its four strategic business
areas of missile defense; precision strike; intelligence, surveillance and
reconnaissance (ISR); and homeland security within the new structure.
The government and defense businesses and their leaders are:
-- Integrated Defense Systems (IDS) - IDS will provide integrated air and
missile defense and naval and maritime warfighting systems, including
modeling and simulation capabilities for the Missile Defense Agency and
strong global integrated capabilities for Army, Navy, Marine Corps, and
technology customers. Ed Franklin, 64, is named president of the
business. He was previously vice president and general manager of
Raytheon's Air & Missile Defense Systems business unit. Dan Smith, 49,
is named vice president and deputy of IDS. Previously, he served as
vice president and general manager of Naval & Maritime Integrated
Systems. IDS combines the former ES units of Air & Missile Defense
Systems and Naval & Maritime Integrated Systems. With headquarters in
Tewksbury, Mass., IDS has 10,000 employees and expected revenues of
approximately $2.2 billion.
-- Intelligence & Information Systems (IIS) - IIS will provide
intelligence and information technology solutions drawing on
capabilities in signals, imaging and geospatial intelligence; air- and
space-borne command and control; ground engineering support; and
weather and environmental management. Mike Keebaugh, 56, is named
president of IIS. Previously he was vice president and general manager
of Imagery and Geospatial Systems. IIS combines the former C3I units
Imagery and Geospatial Systems and Strategic Systems. This new
business will also be responsible for developing Raytheon's information
solutions strategy. With headquarters in Garland, Texas, IIS has 8,000
employees and expected revenues of approximately $2 billion.
-- Missile Systems (MS) - MS designs, develops, and produces missile
systems for critical requirements, including air-to-air, strike,
surface Navy air defense, land combat missiles, guided projectiles,
exoatmospheric kill vehicles, and directed energy weapons. Louise
Francesconi, 49, is named president of the business. Previously, she
served as vice president and general manager of Missile Systems. With
headquarters in Tucson, Ariz., MS has 11,000 employees and expected
revenues of approximately $3 billion.
-- Network Centric Systems (NCS) - NCS will develop and produce network
centric solutions that integrate sensors, systems and secure
communications to manage the battlespace and airspace. Colin
Schottlaender, 47, is named president of NCS. Previously, he was vice
president and general manager of Tactical Systems. Jim Carter, 56, is
named vice president and deputy of NCS. Previously, he served as vice
president and general manager of the Command, Control and Communication
Systems (C3S) unit. NCS combines the former Tactical Systems (from ES)
and the former C3S (from C3I). With headquarters in McKinney, Texas,
NCS has 11,000 employees and expected revenues of approximately $2.7
billion.
-- Space & Airborne Systems (SAS) - SAS will provide technology solutions
to enhance success in critical space and airborne missions. Jack
Kelble, 59, is named president of SAS. Previously he served as vice
president and general manager of the Surveillance & Reconnaissance
business. SAS is a combination of the former ES units Surveillance &
Reconnaissance Systems and Air Combat & Strike Systems. With
headquarters in El Segundo, Calif., SAS has 9,300 employees and
expected revenues of approximately $2.9 billion.
-- Raytheon Technical Services Company (RTSC) - RTSC provides technical,
scientific and professional services for defense, federal, and
commercial customers on all seven continents. Bryan Even, 41, has been
president of RTSC since October of 2001. RTSC remains virtually
unchanged as part of the reorganization. With headquarters in Reston,
Va., RTSC has 15,000 employees and expected revenues of approximately
$2.1 billion.
-- Homeland Security (HS) - HS provides systems and services to assess,
combat and respond to terrorism and the terrorist threat. Hugo Poza,
57, has been vice president of Homeland Security and a member of the
company's Leadership Team since June of 2002. Homeland Security will
draw upon all of Raytheon's resources to serve this fast-growing
market. HS is headquartered in Washington, D.C.
Each of the business presidents and deputies will also be vice presidents
of Raytheon Company and will serve on the company's Leadership Team.
Raytheon Aircraft Company, led by Jim Schuster, Commercial Electronics,
led by Jack Wohler, and Raytheon Commercial Ventures Inc., led by John
Harbison, will continue to report to Burnham.
Until the end of 2002, the company will continue to report its financial
results in the former business structure that includes ES and C3I. The
company will begin reporting financial results in the new structure beginning
in 2003.
With headquarters in Lexington, Mass., Raytheon Company is a global
technology leader in defense, government and commercial electronics, and
business and special mission aircraft.
Forward-looking statements
Certain statements made in this release, including any statements relating
to the company's future plans, objectives, and projected future financial
performance, contain or are based on, forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Specifically, statements that are not historical facts, including statements
accompanied by words such as "believe," "expect," "estimate," "intend," or
"plan," variations of these words and similar expressions, are intended to
identify forward-looking statements and convey the uncertainty of future
events or outcomes. The company cautions readers that any such forward-
looking statements are based on assumptions that the company believes are
reasonable, but are subject to a wide range of risks, and actual results may
differ materially. Given these uncertainties, readers should not rely on
forward-looking statements. Forward-looking statements also represent the
company's estimates and assumptions only as of the date that they were made.
The company expressly disclaims any current intention to provide updates to
forward-looking statements, and the estimates and assumptions associated with
them, after the date of this press release. Important factors that could cause
actual results to differ include, but are not limited to: differences in
anticipated and actual program results; risks inherent with large long-term
fixed price contracts, particularly the ability to contain cost growth; the
ultimate resolution of contingencies and legal matters; the ability to realize
anticipated cost efficiencies; the ability to finance ongoing operations at
attractive rates; government customers' budgetary constraints; government
import and export policies and other government regulations; termination of
government contracts; financial and governmental risks related to
international transactions; the ability to recruit and retain qualified
employees; delays and uncertainties regarding the timing of the award of
international programs; changes in government or customer priorities due to
program reviews or revisions to strategic objectives; difficulties in
developing and producing operationally advanced technology systems; economic
business and political conditions domestically and internationally; program
performance and timing of contract payments; the performance of critical
subcontractors and the ability to obtain adequate insurance; the timing and
customer acceptance of product deliveries; the impact of competitive products
and pricing among other things. Further information regarding the factors that
could cause actual results to differ materially from projected results can be
found in the company's filings with the Securities and Exchange Commission,
including "Item 1-Business" in the company's Annual Report on Form 10-K for
the year ended December 31, 2001.
Contact:
David Polk
781.860.2386
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
David Polk of Raytheon, +1-781-860-2386
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