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Northrop Grumman CFO Stepping Down

January 19, 2005|From Bloomberg News

Northrop Grumman Corp., the third-largest U.S. defense contractor, said Chief Financial Officer Charles Noski was leaving the company and would be replaced by Wesley Bush, effective March 15.

Bush, 43, is president of the company's space technology business, according to Century City-based Northrop. The defense contractor acquired the business in 2002 from TRW Inc., where Bush had worked since 1987.

Noski, 52, who is leaving to pursue personal and professional interests, will remain a director until his term expires in May, the company said.

Noski wasn't asked to resign, Northrop spokesman Frank Moore said, before declining to comment further.

Noski has been Northrop's CFO since December 2003. He joined the company's board in 2002 after retiring as vice chairman of AT&T Corp., where he also was chief financial officer. Previously, he was president and chief operating officer of Hughes Electronics Corp.

Northrop, which made the announcement Monday, said it was evaluating candidates to fill Bush's job.

Shares of Northrop Grumman rose 6 cents Tuesday to $52.70 on the New York Stock Exchange.

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