- Push-out Score determined
- After 11 years in the position
- Accolades, praise and thanks for Petters
- Chris Kastner taking over
- Petters will remain as executive vice chairman at Huntington Ingalls
- Petters said 66 words
(exechange) — Newport News, Virginia, January 28, 2022 — Mike Petters, chief executive of Huntington Ingalls, leaves his position. As announced by Huntington Ingalls Industries Inc. in a news release on Friday, January 28, 2022, C.Michael (Mike) Petters leaves his post as chief executive officer at the engineering and defense technologies provider, after 11 years in the role, effective March 1, 2022.
Mike Petters’s duties as CEO will be taken over by Christopher D. (Chris) Kastner, currently Chief Operating Officer at Huntington Ingalls Industries Inc.
“Multi-year succession planning process”
Mike Petters’s departure from the CEO post is explained as follows. Huntington Ingalls said: “[Kastner’s] selection to succeed Petters is part of HII’s multi-year succession planning process.”
Petters will remain as executive vice chairman at Huntington Ingalls
“Huntington Ingalls Industries (NYSE:HII) announced Thursday its board of directors elected Chief Operating Officer Chris Kastner to become HII president and chief executive officer, consistent with the company’s succession plan. The board also elected president and CEO Mike Petters to become executive vice chairman of the board for a transition period. Both changes are effective March 1,” Huntington Ingalls said.
Share price increase since January 2021
The announcement follows an increase in Huntington Ingalls Industries Inc.’s share price of 17% since January 2021.
In the position of CEO since 2011
Mike Petters became CEO of the Company in 2011.
Starting March 1, Petters will support the leadership transition as executive vice chairman and will remain an HII employee through 2022, during which time he will continue to represent HII.
Petters is President and Chief Executive Officer of Huntington Ingalls Industries, Inc. and has served in such capacity since March 2011.
Petters served as President of Northrop Grumman Shipbuilding from 2008, when it was formed, until 2011, when it was spun off to form HII.
Prior to that, he was President of Northrop Grumman Newport News beginning in 2004.
Since joining Newport News Shipbuilding and Dry Dock Company in 1987, his responsibilities have included oversight of the Virginia-class submarine program, the nuclear-powered aircraft carrier programs, aircraft carrier overhaul and refueling, submarine fleet maintenance, commercial and naval ship repair, human resources and business and technology development.
During his service in the U.S. Navy, Petters served aboard the nuclear-powered submarine USS Bancroft, and he spent five years in the Naval Reserve.
Petters serves as Vice Chairman of the Aerospace Industries Association and as a trustee of the Committee for Economic Development.
He also serves on the boards of directors of the National Association of Manufacturers and the U.S. Naval Academy Foundation.
Petters is a member of the Board of Advisors to the Center for a New American Security.
He received a B.S. in Physics from the U.S. Naval Academy and an M.B.A. from the College of William and Mary.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Mike Petters’s move on a scale of 0 to 10.
exechange reached out to Huntington Ingalls and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 5.2022 ($).