ISELIN, N.J., March 25, 2002 (PRIMEZONE) -- Northrop Grumman Corporation (NYSE:NOC) announced today that Richard F. Raybon has been appointed vice president, Finance, for the company's Component Technologies sector. He succeeds Bill Morgan, who is retiring after having served 13 years with Component Technologies.
In his new position, Raybon will have overall financial responsibilities for the seven divisions that make up the Component Technologies sector. He will oversee general accounting, financial analysis, treasury, budget management and overall profit and loss performance. Raybon will also provide guidance for strategic directions and investments in support of the sector's growth plans.
Raybon joins Component Technologies from the Navigation Systems Division (NSD) of Northrop Grumman's Electronic Systems sector in Woodland Hills, Calif., where he was vice president, Finance. In that position, he managed consolidation efforts and rationalization of NSD's facilities and processes. Previous to that assignment, he held the same position with Litton's Advanced Electronic Warfare Group. His background includes serving as the controller at Litton Network Access Systems prior to its divestiture, and also as controller for Litton Bionetics.
Raybon is a Certified Public Accountant and a former commander in the U.S. Navy Reserves. He received his B.S. degree in business administration from and performed graduate coursework at The Citadel in Charleston, S.C.
Northrop Grumman's Component Technologies sector, headquartered in Iselin, N.J., is a world leader in the design, development and manufacture of high-performance electronic and optical components and materials to the telecommunications, networking, industrial, medical and military markets. Component Technologies includes Interconnect Technologies, Kester, Life Support, Poly-Scientific, Precision Products International, VEAM and Winchester Electronics.
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CONTACT: Linda Self Northrop Grumman Component Technologies (417) 829-5208