- After around eleven years on the job
- Accolades, praise and thanks for Strianese
- Strianese will remain as Chairman at L3
- Strianese spoke at length and said 104 words
(exechange) — New York, July 19, 2017 — Mike Strianese, chief executive of L3, hands over the reins. As announced by L3 Technologies, Inc. in a news release on Wednesday, July 19, 2017, Michael T. (Mike) Strianese leaves the post as Chief Executive Officer at the aerospace and defense company after around eleven years on the job, effective December 31, 2017.
It is the end of an era.
Strianese’s duties are taken over by Chris Kubasik, currently Chief Operating Officer at L3 Technologies, Inc.
“Now is the right time”
The management change is explained as follows. Mike Strianese said: “[N]ow is the right time for this transition.”
Strianese will remain as Chairman at L3
“Mr. Strianese will remain Chairman of L3’s Board,” L3 said.
L3 said: “Chairman and Chief Executive Officer (CEO) Michael T. Strianese has informed the company’s Board of Directors of his plan to retire as CEO, effective December 31, 2017, after 20 years of service with L3.”
Share price rise since September 2011
The change follows a rise in the share price of L3 Technologies, Inc. since September 2011.
On the job as CEO since 2006
Strianese became Chairman on October 7, 2008 and has served as Chief Executive Officer since October 2006.
He also served as President from October 2006 until October 2015.
Until February 2007, Strianese was also the Company’s Corporate Ethics Officer.
He was the Company’s interim Chief Executive Officer and Chief Financial Officer from June 2006.
Strianese became Chief Financial Officer in March 2005.
From March 2001 to March 2005 he was the Company’s Senior Vice President – Finance.
He joined L3 in April 1997 as Vice President – Finance and Controller and was the Company’s Controller until July 2000.
In 2014, Strianese served as Chairman of the Aerospace Industries Association.
Read the full story in the exechange report 30.2017 ($).