Northrop Grumman Names New CEO And CFO

Wesley G. Bush becomes CEO in addition to president; James F. Palmer elected corporate vice president and CFO.

Northrop Grumman Corp. announced Tuesday that it has elected Wesley G. Bush, 45, to CEO of Northrop Grumman in addition to his current title of president, and succeeding Bush as CFO, James F. Palmer, 57, has been elected corporate vice president and CFO.

Both elections will be effective March 12, 2007. Bush and Palmer will report to Ronald D. Sugar, chairman of the board and CEO.

In his new role as chief operating officer, Bush will continue to work closely with Sugar, focusing on company operations. Bush joined Northrop Grumman in 2002 as part of the company's acquisition of TRW Inc.

Palmer, as chief financial officer, will be responsible for the company's overall business management function and activities including the controller; treasury; contracts, pricing and supply chain; financial planning; tax; internal audit; investor relations; trust administration and investments; and financial process excellence functions.

Palmer joins Northrop Grumman from Visteon Corp. where he currently serves as executive vice president and chief financial officer. He joined Visteon in June 2004.

More in Aerospace