Thursday, February 24, 2011

New Shipyard's Board of Directors Named

Six prospective board members of the new shipyard to be formed from Northrop Grumman were named Feb. 22 in an internal company memo.
The six members include a former deputy chief of naval operations (CNO) and the former head of Newport News Shipbuilding.
The proposed Huntington Ingalls Industries (HII) would be spun off from the existing shipyards of Northrop Grumman, and would include the yards at Newport News, Va., Pascagoula, Miss., and New Orleans, La. Northrop has put the yards up for sale as a single entity, but also is moving ahead with plans to spin them off as HII should a satisfactory buyer fail to emerge.
The prospective board members were named in a memo from current Northrop shipbuilding head Mike Petters, who would also stay on as HII's head of shipbuilding. A copy of the memo was obtained by Defense News.
The six are:
■ Paul D. Miller, a retired U.S. Navy admiral who left the service in 1994 after serving as the deputy CNO and as the head of the U.S. Atlantic Command. From 1999 to 2005 he was chairman and chief executive officer for Alliant Techsystems, an aerospace and defense company.
■ Tom Schievelbein, lead director of New York Life Insurance Co. and Petters' predecessor as head of the Newport News shipyard from 2001 to 2004.
■ Robert Bruner, dean of the Darden Graduate School of Business Administration at the University of Virginia.
■ Artur Davis, a partner at the law firm SNR Denton, who served from 2003 to 2011 as the Democratic representative to Congress from Alabama's Seventh Congressional District.
■ Anastasia Kelly, a partner at the law firm of DLA Piper and, from 2006 to 2010, an executive vice president and general counsel with American International Group (AIG).
■ Karl von der Heyden, co-chairman of the American Academy in Berlin, Germany and, from 1996 to 2001, vice chairman of the board of directors of PepsiCo Inc.
Retired U.S. Navy admiral Thomas B. Fargo was named in November as HII's prospective non-executive chairman of the board.
No timetable has been publicly announced for the proposed spinoff, but, barring any major obstacles, it is expected to take place around April.

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