New president for Newport News
Northrop Grumman Corporation (NYSE: NOC) today announced that its Board of Directors has elected C. Michael Petters as corporate vice president and president of the company's Newport News sector, succeeding Thomas C. Schievelbein, 51, who has elected to take early retirement.
Petters will assume his new position on Nov. 1, 2004. He will report to Ronald D. Sugar, Northrop Grumman's chairman, chief executive officer and president.
Petters, 44, currently serves as the sector's vice president of human resources, administration and trades, and most recently was instrumental in the successful collective bargaining agreement between the company and the United Steelworkers of America. During his 17 years with the company, he has held increasingly responsible management positions including production manager for submarines, marketing manager for submarines and for carriers, vice president for aircraft carrier programs, and vice president for contracts and pricing.
"Mike's experience in heading vital sector functions makes him an ideal choice to lead the Newport News sector in the years ahead," said Sugar. "He brings thorough knowledge and critical nuclear shipbuilding experience to his new position. Mike will be an excellent addition to my senior leadership team."
Sugar added, "We thank Tom for his eight years of leadership of the shipyard's operations. Tom was key to Northrop Grumman's successful integration of the sector into the overall corporation following our purchase of Newport News in 2001. The sector has been an outstanding performer under his stewardship. We will miss his expertise, but we respect his wish to take early retirement. We wish him and his wife Betty the very best."
"I've had the great privilege of running the operations at Newport News for five years and then leading the entire sector for the past three years as part of Northrop Grumman," said Schievelbein. "It's been a wonderful experience and I thank Northrop Grumman for the opportunity; however, I've decided it's time to begin the next chapter of my life, which will include spending more time with my wife and pursuing some of my personal interests."
Petters joined Newport News Shipbuilding in 1987 in the submarine construction division. He has held a number of increasingly responsible positions throughout the organization. Petters graduated from the U.S. Naval Academy in 1982 with a bachelor's degree in physics. He served as an officer aboard the USS George Bancroft before joining the Naval Reserve in 1988. He earned an MBA from the College of William and Mary in 1993.
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