- Push-out Score suggests push-out forces
- After nine years in the position
- Praise for Bush
- Kathy Warden taking over
- Bush spoke briefly and said 39 words
(exechange) — Falls Church, Virginia, July 12, 2018 — Wes Bush, chief executive of Northrop Grumman, leaves his post. His departure is made public at an early stage. As announced by Northrop Grumman Corporation in a news release on Thursday, July 12, 2018, Wesley G. (Wes) Bush leaves his post as chief executive officer at the defense contractor after nine years in the role, effective January 1, 2019.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 9.5 years, according to data compiled by exechange.
Bush’s duties will be taken over by Kathy J. Warden, currently chief operating officer of Northrop Grumman Corporation.
“To ensure a seamless transition”
A reason for Bush’s departure from the CEO post was not explicitly given. Don Felsinger, Northrop Grumman’s lead independent director, said: “The board of directors has a strong focus on succession planning, and Kathy’s election as our incoming CEO and president enables us to ensure a seamless transition in this important leadership position for our company.”
Precise information about Bush’s future plans was not immediately available.
Northrop Grumman said: “Northrop Grumman (NOC) chairman and chief executive officer Wes Bush announced today that he will step down from the position of chief executive officer effective Jan. 1, 2019.”
Share price decline
The change follows a decline in the share price of Northrop Grumman Corporation since April 2018.
In the position of CEO since 2010
Wes Bush is chairman and chief executive officer of Northrop Grumman Corporation, a leader in global security.
He has served as chief executive officer since January 2010, and as chairman since July 2011.
Prior to 2010, Bush served as the president and chief operating officer of the company.
Before that, he served as the corporate vice president and chief financial officer, and, earlier, as the president of the company’s Space Technology sector.
Prior to the acquisition of TRW by Northrop Grumman, he had served since 2001 as president and chief executive officer for TRW’s UK-based global Aeronautical Systems.
Bush joined TRW in 1987 as a systems engineer, and served in engineering, program management and business development roles in TRW’s Space & Electronics business.
Prior to joining TRW, he held engineering positions with both the Aerospace Corporation and Comsat Labs.
Bush earned a bachelor’s degree and a master’s degree in electrical engineering from the Massachusetts Institute of Technology.
He also completed the University of California, Los Angeles’ Executive Management Program.
Bush serves on the board of directors of Norfolk Southern Corporation, as well as the boards of several nonprofit organizations, including the Aerospace Industries Association, the Business-Higher Education Forum, Conservation International, the U.S. Naval Academy Foundation, the Inova Health System and the USO Board of Governors.
He will remain chairman through July 2019.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Wes Bush’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 29.2018 ($).