Northrop Grumman Chairman and Chief Executive Officer (CEO) Wes Bush announced today that he is leaving the company in 2019. Northrop Grumman’s board of directors has already elected President and Chief Operations Officer (COO) Kathy Warden to replace him.
Bush’s decision surprised analysts and traders, as Northrop Grumman shares dropped about 1.5 percent in early morning trading. He will step down from his role as Northrop Grumman CEO on Jan. 1, 2019, and leave the company’s board of directors at the end of July 2019. Warden will serve as a member of the board, effective immediately.
Warden joined Northrop Grumman in 2008 and has held a series of positions of increasing responsibility, including serving as the vice president and general manager of the company’s cybersecurity business, president of its former Information System sector, and president of its Mission System sector.