WALTHAM, Mass., Dec. 18 /PRNewswire-FirstCall/ -- The Raytheon Company
(NYSE: RTN) board of directors has named Ronald L. Skates, 62, as chair of its
audit committee effective January 1, 2004. Skates replaces Michael C.
Ruettgers, 61, executive chairman of EMC, who steps down as audit chair, but
remains on the board of directors. Skates joined the Raytheon board of
directors in January 2003.
Skates was director, president and chief executive officer of Data General
Corp. from 1989 to 1999. He joined Data General Corp. in 1986 as a senior
vice president for finance and administration and chief financial officer.
Prior to joining Data General Corp., Skates was an audit partner with Price
Waterhouse (now PricewaterhouseCoopers) for 10 years. He previously was a
director and served as chairman of the audit committee for Cabot Industrial
Trust.
Skates is currently a director and serves on the audit committee for the
State Street Corp. He also is a director and audit committee chair for the
Courier Corp. Skates has served on Raytheon's audit committee since he joined
the board earlier this year and qualifies as a "financial expert" under the
new SEC rules adopted pursuant to the Sarbanes-Oxley Act of 2002.
"We are pleased to have an expert like Ron Skates lead our audit
committee," said Warren B. Rudman, lead director of the Raytheon board of
directors and former U.S. senator. "On behalf of the board, I would like to
thank Mike Ruettgers for his outstanding leadership of the audit committee."
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 Waltham, Mass., Raytheon employs more than 76,000 people
worldwide.
Contact:
James Fetig
781-522-5111
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
James Fetig of Raytheon Company,
+1-781-522-5111
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