You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Raytheon board elects new CEO

The entrance to a Raytheon Co. plant in Andover.

Winslow Townson/AP

The entrance to a Raytheon Co. plant in Andover.

Raytheon Co., the Waltham-based defense contractor, said Wednesday that its board of directors has elected Dr. Thomas A. Kennedy, age 58, to serve as the chief executive, effective March 31.

Kennedy will succeed William H. Swanson, who has served as CEO since 2003, Raytheon said in a press release. Swanson told the board of his intention to step down from his position as CEO in March, following his 65th birthday next month.

Continue reading below

After March, Swanson will continue to serve as chairman of the board while the company completes the transition to the new CEO.

Kennedy, a 30-year veteran of Raytheon, has served as executive vice president and chief operating officer of Raytheon since April 2013.

Raytheo, with 2012 sales of $24 billion, has 68,000 employees worldwide.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of