WASHINGTON — Falls Church, Virginia-based defense contractor Northrop Grumman said CEO Wes Bush will step down as chief executive in January and remain chairman through July 2019.
Chief operating officer Kathy Warden will replace Bush as CEO effective Jan. 1.
Warden also joins the company’s board of directors, effective immediately.
Warden joined the company in 2008 and has held several executive positions, including vice president of the company’s cybersecurity business and president of its Mission Systems sector.
“I am delighted that Kathy will become our company’s next CEO,” said Bush in a Northrop Grumman statement. “She has demonstrated exceptional leadership in her roles leading the operations of our company, and she brings the vision and values to lead Northrop Grumman into the future.”
Bush, who has held the CEO position since 2010, oversaw the company’s recent $9 billion acquisition of Orbital ATK.
The company’s market value has more than tripled under his leadership to $56 billion, according to Bloomberg data.
