The CEO of Raytheon will retire at the end of March and will be replaced by the defense contractor’s executive vice president and chief operating officer, the Waltham-based company announced today.
William H. Swanson, who turns 65 next month, and has served as CEO for 10 years, will give way to Thomas A. Kennedy as of March 31, Raytheon said in a statement.
Raytheon has operations in Marlborough and Sudbury.
Swanson will continue to serve as chairman of the company’s board. Kennedy, 58, who has been in his current role since April, led the recent consolidation of Raytheon’s six divisions into four to enhance the company’s productivity and agility, the Raytheon statement said. The former Air Force captain previously served as Raytheon Co.’s vice president and as president of Raytheon’s Integrated Defense Systems (IDS), one of the four divisions, the company said.
