FALLS CHURCH, Va.,
Dec. 8, 2014
/PRNewswire/ -- Northrop Grumman Corporation (NYSE: NOC)
announced today that its board of directors has elected
Kenneth L. Bedingfield, corporate
vice president and chief financial officer, effective after the
company files its 2014 annual report. Bedingfield will succeed
James F. Palmer, who has announced
his intention to retire in 2015.
A photo accompanying this release is available at:
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In his new role, Bedingfield will be responsible for the
company's overall business management function and activities
including accounting; treasury; contracts and pricing; financial
planning; tax; internal audit; investor relations; and trust
administration and investments. He will report to Wes Bush, the company's chairman, chief
executive officer and president, and become a member of the
company's Corporate Policy Council.
The company expects to file its annual report in
February 2015, at which time Palmer
will continue as a corporate vice president with the company until
he retires in the summer of 2015. This will facilitate an orderly
transition.
"We are delighted to welcome Ken
Bedingfield, a highly respected financial executive, to our
senior management team," Bush said. "He brings broad-based business
management and financial expertise to his new position. We look
forward to his contributions to our company's performance for our
shareholders, customers and employees.
"Jim Palmer has provided
exceptional leadership as Northrop Grumman's chief financial
officer for the past eight years," said Bush. "He has been
instrumental in our drive to improve performance, optimize our
portfolio and strategically deploy our resources. We thank Jim for
his many contributions to our company's success."
Bedingfield joined Northrop Grumman in 2011. Currently, he
is vice president, Finance, in the corporate office, has
responsibility for operational finance matters across the company
and all sector chief financial officers report to him. Previously,
Bedingfield served as vice president, Business Management and chief
financial officer for Northrop Grumman's Aerospace Systems sector.
He also has served as corporate vice president, controller and
chief accounting officer for the corporation.
Prior to joining Northrop Grumman, he spent 17 years at
KPMG LLP, most recently as the national client leader of its U.S.
aerospace and defense audit practice.
Bedingfield earned a bachelor's degree in accounting from
the University of Maryland at College
Park. He is a certified public accountant and a member of
the American Institute of Certified Public Accountants.
Northrop Grumman is a leading global security company
providing innovative systems, products and solutions in unmanned
systems, cyber, C4ISR, and logistics and modernization to
government and commercial customers worldwide. Please visit
www.northropgrumman.com for more information.
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SOURCE Northrop Grumman Corporation