Summary
Northrop Grumman Corporation (NOC) announced significant leadership changes within its Aerospace Systems segment. Thomas E. Vice, Corporate Vice President and President of Aerospace Systems, will retire effective August 18, 2017. He will transition to a Corporate Vice President role on April 1, 2017, to facilitate a smooth handover and support other company initiatives during his remaining tenure. In conjunction with Mr. Vice's retirement, the Board of Directors has elected Janis Pamiljans, currently Vice President and General Manager of Strategic Systems, to succeed Mr. Vice as Corporate Vice President and President, Aerospace Systems, also effective April 1, 2017. Mr. Pamiljans brings extensive experience to this role, having been with the company since 1987 and holding various leadership positions, including overseeing Unmanned Systems. The company has entered into a Transition and Retirement Agreement with Mr. Vice, outlining terms for his departure, including continued eligibility for certain incentive grants and pension benefits, subject to non-compete and non-solicitation clauses.
Key Highlights
- 1Thomas E. Vice, Corporate VP and President of Aerospace Systems, will retire on August 18, 2017.
- 2Mr. Vice will transition to a Corporate VP role from April 1, 2017, to assist with the transition.
- 3Janis Pamiljans appointed Corporate VP and President of Aerospace Systems, effective April 1, 2017.
- 4Mr. Pamiljans has a long tenure with Northrop Grumman (since 1987) and significant leadership experience, including in Strategic Systems and Unmanned Systems.
- 5A Transition and Retirement Agreement has been executed with Mr. Vice.
- 6The agreement includes provisions for pro-rata long-term incentive grants, pension benefits, and bonus, subject to restrictive covenants.