Litton’s Chief Executive Will Step Down

Roland O. Peterson will step down as president and chief operating officer of Litton Industries on Nov. 1 to take an interim position as part of his plan for early retirement.

The board selected Alton J. Brann, a Litton vice president and group executive, to succeed Peterson. Brann, 48, will also be a candidate for director at the annual shareholders meeting in December, replacing Peterson, who decided not to seek reelection. The management shift came as a surprise to analysts. Litton said it was made because Peterson, who will be 59 next January, plans to retire soon. Peterson wants to retire before he becomes 65, the mandatory retirement age for Litton executives, said Robert Knapp, a company spokesman.

Peterson will be a senior vice president and group executive of Litton’s Components and Industrial Products business until he retires. The group includes divisions that produce components for computers and microwaves. Peterson will also assume the office of chief scientist at Litton, replacing Charles Bridge, who retired last month.

Peterson has a 30-year history at the Beverly Hills-based firm, which supplies advanced electronic equipment for the military and manufactures microwave components and industrial automation systems. He was first elected president in 1988.

“Taking this step toward retirement has allowed the board to select my successor early, which will result in better management continuity,” Peterson said in a statement.

Brann, who heads the Components and Industrial Products group, joined Litton in 1973. He was formerly president of Litton’s Guidance & Control division, which supplies the military, and was elected a corporate vice president in 1984.