WASHINGTON, Jan. 15, 2014 /PRNewswire/ -- Raytheon Company (NYSE: RTN) announces the Raytheon – Zumwalt Scholarship, established in honor of Admiral Elmo R. "Bud" Zumwalt, Jr., Chief of Naval Operations (1970 – 1974), and the next-generation multimission destroyer, the DDG 1000 class, which aptly bears the Zumwalt name.

Established through the Anchor Scholarship Foundation, Raytheon has funded a $125,000 endowment to support an ongoing program to provide annual scholarships to students pursuing a four-year degree in a STEM (Science, Technology, Engineering, and Math) related field. Candidates must be either a dependent child or a spouse of a U.S. Navy Surface Force service member - officer or enlisted; active duty or retired. The recipient will receive a $20,000 scholarship ($5000/year in pursuit of a 4 year degree) provided eligibility requirements are met each year (degree focus, sustained 3.0 GPA, etc.).

"The Raytheon-Zumwalt Scholarship is a fitting testament to an innovative leader and his namesake ship-class, both contributing to a transformation for the U.S. Navy," said Raytheon's Kevin Peppe, vice president of Integrated Defense Systems' Seapower Capability Systems business area. "With this scholarship, our goal is to support our extended Navy family and the educational pursuits of our next generation of technologists, engineers and scientists – future innovators who exemplify Zumwalt's legacy."

In July 1970, Zumwalt was appointed Chief of Naval Operations and became the youngest four-star admiral in American history. In that position he instituted a wide range of reforms to revitalize the Navy.¹ At the Pentagon, he became famous for his "Z-grams," directives for implementing reforms in living conditions, terms of leave, and the dress code. He developed grievance systems and ombudsmen for enlisted personnel. He also encouraged the development of new vessels, such as surface effect craft and gas turbine gunboats.²

DDG 1000 Zumwalt-class Destroyers
The DDG 1000 Zumwalt-class destroyer is America's next generation, multimission, naval destroyer. Its advanced mission capabilities are driven by critical technologies that give the ship unprecedented versatility in a variety of operational environments and dramatically reduce manning requirements.

As the prime mission systems integrator for DDG 1000, Raytheon provides all electronic and combat systems for the program. Working with the Navy and a team of industry partners, Raytheon is leading the effort to transform the Navy's ship requirements to reality.

DDG 1000 entered the water Oct. 28, 2013, at Bath Iron Works, Bath, Maine. Construction continues dockside, supported by Raytheon's Ship Integration and Test team onsite for ongoing system integration and testing.

About Anchor Scholarship Foundation
Established as the SURFLANT scholarship in 1981 and re-chartered in 2004, Anchor Scholarship Foundation has awarded over $500,000 in scholarships to more than 300 of the U.S. Navy's Surface Force families to mitigate the cost of a college education. Recipients are the children or spouses of officer and enlisted, active duty and retired members of the U.S. Navy's Surface Force.

About Raytheon
Raytheon Company, with 2012 sales of $24 billion and 68,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 91 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems; as well as a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.

Media Contact
Carolyn Beaudry
1.401.842.3550

idspr@raytheon.com

SOURCE Raytheon Company