Raytheon vice president Todd Ernst to lead Corporate Development
Michael J. Cody retiring after distinguished career
WALTHAM, Mass., Oct. 5, 2017 /PRNewswire/ -- Raytheon Company (NYSE: RTN) today announced that Todd Ernst has been named vice president, Corporate Development to succeed Michael J. Cody, who is retiring after serving more than eight years in the role at the company. The change is effective Nov. 6, 2017.
Ernst adds oversight of merger and acquisitions while continuing his role as head of Investor Relations. He also continues to report to Raytheon vice president and Chief Financial Officer Toby O'Brien.
"Todd's expertise in finance, banking and strategy is ideally suited to his expanded role as we continue to position the company for global growth," said O'Brien. "I want to thank Michael for his solid leadership of our Corporate Development function and congratulate him on an impressive career supporting our overall global growth, competitive advantage and enterprise collaboration goals."
Ernst has led Raytheon's Investor Relations since November 2010. He joined Raytheon in January 2010 as director, Competitive Assessment for Corporate Strategy. Previously, he held senior equity analyst positions at Balyasny Asset Management and Neuberger Berman, covering aerospace and defense and other industry sectors. He holds a Bachelor of Arts in History from DePauw University and a Master of Business Administration with an emphasis in Finance and Corporate Strategy from the University of Michigan's Ross School of Business. He is also a designated Certified Treasury Professional.
Cody has led Corporate Development since June 2009 when he joined Raytheon. He was instrumental in shaping the company's cyber and technology portfolios, leading 20 acquisitions including Raytheon's $1.57 billion agreement with Vista Equity Partners to form a new company that combined Websense (a Vista portfolio company) with Raytheon Cyber Products to become what is now Forcepoint. Previously, he served in senior corporate development roles at Ensign-Bickford Industries Inc., Meadowood Capital Ltd, EMC Corporation and United Technologies Corporation. He also held investment banking positions at PricewaterhouseCoopers and Kidder Peabody & Co. Additionally, Cody served as a director on the boards of MTI Technologies Ltd. and Safeguard Scientifics Inc. He holds a Bachelor of Arts in Economics from the University of Massachusetts, and a Master of Business Administration from Columbia University – Columbia Business School.
Raytheon Company, with 2016 sales of $24 billion and 63,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 95 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5I™ products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Massachusetts. Follow us on Twitter.
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