Northrop Grumman president takes on COO title; new CFO named

The board of directors of Northrop Grumman has elected Wesley Bush chief operating officer in addition to his title of president. The board also elected James Palmer corporate vice president and chief financial officer. He will succeed Bush as CFO.Both elections are effective March 12, according to a company statement released today.Bush and Palmer will report to Ronald Sugar, Northrop Grumman’s chairman of the board and chief executive officer. The company said the appointments complete the search for a CFO that was announced in May 2006.Bush joined Northrop Grumman in 2002 as part of the company’s acquisition of TRW. He had been with TRW since 1987, where he held technical and management positions in electronic and space systems. In 2001, Bush was elected president of TRW Aeronautical Systems in Birmingham, England. Following Northrop Grumman's acquisition of TRW, Bush was elected corporate vice president and president of the company's Space Technology sector. In 2005, he was elected corporate vice president and CFO and in 2006, he was elected president and CFO.As CFO, Palmer will be responsible for the company's overall business management activities. He will also provide leadership to the business management organizations within the operating sectors of the company, according to the statement.Palmer will join Northrop Grumman from Visteon, where he is executive vice president and CFO. He joined Visteon in June 2004, after four years as president of Boeing Capital. From 1997 to 2000, he was president of Boeing Shared Services.