LOS ANGELES, Aug. 15, 2001 (PRIMEZONE) -- Northrop Grumman Corporation (NYSE:NOC) today announced that Jay H. Nussbaum, executive vice president of Oracle Service Industries, a subsidiary of Oracle Corporation, has joined Northrop Grumman's board of directors.
The company also announced that Robert A. Lutz, a Northrop Grumman director since 1997, resigned effective today to serve as vice chairman and head of product development for General Motors Corporation. Northrop Grumman's board membership remains at 10.
Mr. Nussbaum manages all sales, marketing, consulting, support, business operations and strategic planning for Oracle Service and is a member of Oracle Corporation's executive committee. Oracle Service Industries, based in Reston, Va., serves U.S. government, education, health care, communications, utilities and financial services industries with a variety of software, Internet and technology solutions.
"We are fortunate to be adding to our board of directors an executive with Jay's extensive background in serving government and commercial customers with the technologies driving the information-age economy," said Kent Kresa, Northrop Grumman chairman, president and chief executive officer. "Information technology is one of Northrop Grumman's engines of growth, and Jay's experience will be a tremendous asset as we continue to expand this and other areas of our business."
Mr. Kresa added, "We are indebted to Bob Lutz for his insight and commitment over the past several years. His counsel and corporate perspective will be greatly missed, and we wish him much success at General Motors."
Since Mr. Nussbaum joined Oracle in 1992 as senior vice president and general manager of what was then Oracle Federal, Oracle Service Industries' business has grown from slightly less than $60 million to more than $1.5 billion in annual revenues. During this period, he extended the successful Oracle U.S. public-sector model into global vertical markets.
Mr. Nussbaum came to Oracle after a 24-year career with Xerox Corporation, where he served most recently as president of integrated systems operations. While at Xerox, he was responsible for integration and consulting services in commercial and federal government markets.
He received his bachelor's degree in business from the University of Maryland, where he is a member of the chancellor's advisory board. Mr. Nussbaum also serves on the advisory board of James Madison University. In addition to Northrop Grumman, he is a member of the boards of KPMG Consulting and the Armed Forces Communications and Electronics Association.
Northrop Grumman Corporation is a $15 billion, global aerospace and defense company with its worldwide headquarters in Los Angeles. Northrop Grumman provides technologically advanced, innovative products, services and solutions in defense and commercial electronics, systems integration, information technology and non-nuclear shipbuilding and systems. With 80,000 employees and operations in 44 states and 25 countries, Northrop Grumman serves U.S. and international military, government and commercial customers.
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