Two presidents have been appointed to lead the Raytheon (NYSE: RTN) businesses that will be consolidated once the Waltham, Mass.-based defense contractor and United Technologies Corp. (NYSE: UTX) complete their merger.
Roy Azevedo, head of Raytheon™s space and airborne systems business, will serve as president of the intelligence, space, airborne systems business unit, the company said Wednesday.
Wesley Kremer, current head of Raytheon™s missile systems segment, will become president of the integrated defense and missile systems business unit.
Thomas Kennedy, chairman and CEO of Raytheon and a 2019 Wash100 award winner, said Kremer and Azevedo are defense industry veterans who will bring to Raytheon Technologies their strong client focus and global business acumen.
The intelligence, space, airborne systems business unit will be composed of Raytheon™s SAS, Forcepoint and intelligence, information and services business and will have approximately $15B in 2019 sales. The integrated defense and missile systems business unit will consist of Raytheon™s integrated defense systems and missile systems segments with approximately $16B in 2019 sales.
Azevedo is a three-decade Raytheon veteran and sits on the boards of Raytheon™s business arms in the U.K., Australia and Saudi Arabia. He previously served as vice president and general manager of the company™s intelligence, surveillance and reconnaissance systems business.
Kremer started his career at Raytheon in 2003 and previously led the company™s integrated defense systems business. He served as a weapon systems officer in the U.S. Air Force for more than a decade.
The leadership moves came a month after Anthony œToby O™Brien, chief financial officer of Raytheon, was appointed to serve in similar capacity at the combined company.
In June, Raytheon and UTC agreed to merge in an all-stock deal to form a tech provider – Raytheon Technologies “ within the aerospace and defense sector. The transaction is expected to close in the first half of 2020.
