FALLS CHURCH, Va. -- May 5, 2014 -- Northrop Grumman Corporation (NYSE:NOC) has named Diane M. Balderson, vice president, Contracts and Pricing, reporting to James F. Palmer, corporate vice president and chief financial officer. She will succeed Harry Q.H. Lee, who will retire from Northrop Grumman at the end of 2014. Lee will work with Balderson to ensure a smooth transition. Until his retirement, Lee will continue to have primary responsibility for all contract and pricing matters, and will work closely with Balderson to ensure a smooth transition of responsibilities and customer relationships.

The vice president, Contracts and Pricing provides oversight to all companywide contracts and pricing policy, and is responsible for the company's contract risk review process.

"We welcome Diane to the Northrop Grumman team," said Palmer. "She brings 33 years of experience in U.S. government acquisition leadership, 21 of which she was a member of the federal senior executive service. She has led a broad range of large contracting organizations and has executed complex business deals for both defense and civil agencies. We look forward to her contributions to our company."

Balderson comes to Northrop Grumman from her most recent position as executive director/assistant commander for contracts, Naval Air Systems Command (NAVAIR), where she was responsible for executing $30 billion in annual contractual obligations and expenditures and led 850 civilian, military and contractor personnel across seven major locations. She was the first civilian to lead the NAVAIR contracting organization.

Prior to that, Balderson served as contracting department head for NAVAIR Air Assault and Special Missions; acting deputy director, Office of Acquisition Management for the Environmental Protection Agency (EPA), and director, Superfund/Resource Conservation and Recovery Act Contracting for the EPA.

Balderson earned the Meritorious Executive Presidential Rank Award, Department of Navy Distinguished Civilian Service Award and Department of Navy Superior Civilian Service Award during her tenure with the U.S. government.

Balderson earned a bachelor's degree from the University of Virginia and a master's degree in contract acquisition and management from the Florida Institute of Technology.

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.

  CONTACT: Randy Belote