Northrop Grumman announced today that its board of directors has elected Kenneth L. Bedingfield, corporate vice president and chief financial officer, effective after the company files its 2014 annual report.
Bedingfield will succeed James F. Palmer, who has announced his intention to retire in 2015.
In his new role, Bedingfield will be responsible for the company's overall business management function and activities including accounting; treasury; contracts and pricing; financial planning; tax; internal audit; investor relations; and trust administration and investments. He will report to Wes Bush, the company's chairman, chief executive officer and president, and become a member of the company's Corporate Policy Council.
The company expects to file its annual report in February 2015, at which time Palmer will continue as a corporate vice president with the company until he retires in the summer of 2015. This will facilitate an orderly transition.
"We are delighted to welcome Ken Bedingfield, a highly respected financial executive, to our senior management team," Bush said. "He brings broad-based business management and financial expertise to his new position. We look forward to his contributions to our company's performance for our shareholders, customers and employees.
"Jim Palmer has provided exceptional leadership as Northrop Grumman's chief financial officer for the past eight years," said Bush. "He has been instrumental in our drive to improve performance, optimize our portfolio and strategically deploy our resources. We thank Jim for his many contributions to our company's success."
Bedingfield joined Northrop Grumman in 2011. Currently, he is vice president, Finance, in the corporate office, has responsibility for operational finance matters across the company and all sector chief financial officers report to him. Previously, Bedingfield served as vice president, Business Management and chief financial officer for Northrop Grumman's Aerospace Systems sector. He also has served as corporate vice president, controller and chief accounting officer for the corporation.
Prior to joining Northrop Grumman, he spent 17 years at KPMG LLP, most recently as the national client leader of its U.S. aerospace and defense audit practice.
Bedingfield earned a bachelor's degree in accounting from the University of Maryland at College Park. He is a certified public accountant and a member of the American Institute of Certified Public Accountants.
Australian Minister for Defence, Senator the Hon. David Johnston, formally launched Northrop Grumman Australia in a ceremony at the Australian War Memorial last night
Northrop Grumman has successfully conducted the integrated baseline review (IBR) of the production, deployment and initial sustainment phase for the Enhanced Polar System (EPS) Control and Planning Segment (CAPS). The U
Northrop Grumman has announced Wednesday that its new Viper 2.1 laser, featuring a form factor and interface for use on all directed infrared countermeasure (DIRCM) systems
Northrop Grumman announced Monday that it has won a contract from Naval Air Systems Command to deliver its next-generation mission computer for the Marine Corps' H-1 helicopter upgrade program. Under this contract, Northrop Grumman will provide FlightPro Gen III mission computers for the UH-1Y and AH‑1Z aircraft
Computer Sciences Corp and a division of Northrop Grumman have won separate contracts worth a total of $65.2 billion to provide the U
Northrop Grumman has dedicated a pair of teams to develop a "sixth-generation" fighter for both the US Navy and Air Force. Both the Air Force and Navy have begun preliminary planning for what is referred to as next-generation air dominance, or "sixth-generation" fighters, according to Defense News
Northrop Grumman announced today that it has delivered its first APG-83 Scalable Agile Beam Radar (SABR) to Lockheed Martin which will be used for US and Taiwan Air Force F-16 radar modernization program. "Northrop Grumman's fire control radars have provided vital capabilities for the F-16 and other fighter aircraft for the past four decades," said Jeff Leavitt, vice president, combat avionics systems business unit, Northrop Grumman
US Develops Headgear to Protect Military Dogs’ Ears
Russia Begins Trials of Arena-M Countermeasure Equipped on T-72 Tanks
NATO to Upgrade Old AWACS Planes for $1B
Belarus Gets 2 More Su-30SM Fighters
Russia Seeks Customers for 6 Upgraded, Former Indian Air Force Su-30 Fighters
Italian Arms Exports to Pakistan Jump four-folds in 1 year
Indonesia Plans F-16 V Fighter Jets Purchase, Russian Su-35 still on Anvil
Boeing admits Parachute 'Deployment Anomaly' in Spaceflight Abort Test
Several joint production and direct procurement programs could be halted if the US and Europe carry through with their threat...
Sanctions-hit Iran has found ingenious ways to develop military hardware
Artificial Intelligence (AI) is rapidly permeating the defence industry to aid and improve human decision-making
Upgrade of Russias Sukhoi Su-30SM fighters to equip them with armaments, radar, sensors and engines from the more powerful Su-35...
US companies sanctioned by China for supplying weapons to Taiwan may be denied rare earth elements (REEs), which have critical...
While the US F-35 stealth aircraft has become one the fastest selling fighter jets in the world aircraft market, thanks...