Investing.com -- Northrop Grumman (N:NOC) named Gloria Flach as its new Chief Operating Officer on Wednesday as part of a host of leadership changes aimed at enhancing innovation across the company.
The global aerospace and defense technology company, based in Falls Church, Virginia, is among the largest defense contractors in the world. Flach, who joined Northrop Grumman in 1981, previously served as its corporate vice president and president of its defense electronics systems sector. As part of Flach's job responsibilities, she oversaw the company's operations in airspace management systems, navigation systems, radar and self-protection systems, marine systems, space systems, oceanic and naval systems, government systems and logistics services among others. Prior to that, Flach served as the company's president of its Enterprise Shared Services division.
In addition, Northrop Grumman announced that it will be streamlining its business sectors, while creating two new divisions. The sectors will be formed by merging its Electronic Systems, Information Systems and Technical Services segments. The new sector will be led by Chris Jones, a corporate vice president and president of Technical Services, the company said in a statement.
The company will also move its military and civil space hardware business in Azusa, California, to its Aerospace Systems sector. The division will still be headed by Tom Vice, the company said.
"These changes align more closely with the evolving missions of our customers in the global security markets we serve," said Wes Bush, chairman, chief executive officer and president, Northrop Grumman. "I am pleased that we have strong leadership in place and I look forward to working with them to continue to deliver top performance for our shareholders, customers and employees."
Northrop Grumman also announced on Wednesday that it will release its financial results from the third quarter of 2015 on Oct. 28.
Shares in Northrop Grumman fell 3.27 or 1.85% to 173.80 at the close of trading on Wednesday.