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IN BRIEF / DEFENSE

L3 Taps Finance Chief to Succeed Late CEO

June 10, 2006|From the Associated Press

L-3 Communications Holdings Inc. said it named Chief Financial Officer Michael Strianese as interim chief executive after founder Frank Lanza's death Tuesday.

The company also named Lehman Bros. Holdings Inc. Managing Director Robert Millard to L-3's board as nonexecutive chairman. The New York-based defense technology and services company said Millard would be one of three outside directors joining an executive committee to help search for a new CEO.

Lanza, 74, helped found L-3 and was an architect of the acquisitions that helped the company grow to be the No. 9 Defense Department contractor last year, with $4.7 billion in Pentagon business.

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