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William H. Swanson
Raytheon says CEO will step down in March and names replacement
Raytheon says CEO will step down in March and names replacement

Defense contractor Raytheon Co. announced Chief Executive William H. Swanson will step down in March and will be replaced by Chief Operating Officer Thomas A. Kennedy. Swanson, who turns 65 in February, has served as the company’s CEO since 2003. He will continue to serve as chairman of the board of directors until the company completes the transition process. Kennedy, 58, has served as executive vice president and COO of Raytheon since last April and oversaw the consolidation of Raytheon’s six business units to four. The consolidation would result in annual savings of about $85 million, the company said. Under that plan, Raytheon's space and airborne systems unit...

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