William H. Swanson was recently reelected as Chairman and Chief Executive Officer of Raytheon, a defense technology company and one of the world's leading producers of advanced defense and communications systems. Swanson, who has been with the company since 1992, has been the company's CEO since 2003, serving as Chairman of the Board since 2006.
Swanson's reelection is significant because Raytheon is one of the most important defense contractors in the United States. Raytheon's products are used in the U.S. armed forces, law enforcement, intelligence agencies, and civil and commercial applications. One of its best known products is the Patriot missile, which has been used to protect U.S. war airplanes from being struck by missiles from rival countries.
Under Swanson's leadership, Raytheon has been able to focus its investments and capabilities in areas critical to the defense industry, such as cyber security, electronic warfare, intelligence gathering, drone technology, and artificial intelligence. He has also focused on expanding the company's international presence, having opened several offices in key markets around the world including India and the United Kingdom.
Swanson's ability to lead a highly-specialized and multi-disciplinary workforce to success is why he is so highly respected by defense industry leaders around the world. After his reelection as CEO, he stated, “It’s an honor to lead Raytheon, and I am grateful for the support of the Board of Directors. I am confident that the company will continue to appreciate and benefit from the hard work of our employees, board of directors and our other stakeholders.”
Swanson's vision and guidance for Raytheon has continued to nurture the company, and his execution of their strategy recently enabled Raytheon to win a $1 billion Department of Defense (DoD) contract for a state-of-the-art missile detection system. The contract is for the Army's Integrated Air and Missile Defense Battle Command System, a network of radars and sensors that provide early warning and integrated defenses to help thwart enemy missile attacks.
Swanson has also aggressively pursued cost efficiencies and sought new partnerships to grow the company and increase its competitiveness globally. Swanson recently announced a joint venture with the United Arab Emirates-based Abu Dhabi Capital Group in order to establish a ‘Raytheon Middle East’ information technology firm. This will allow Raytheon to better serve its customers in the UAE while leveraging the local operating environments and economies of scale.
Swanson’s reelection has been widely lauded by the defense and investment communities alike. Presidential advisor, retired four-star general, and Raytheon Board Member Stanley McChrystal declared, “Having lived and worked in the defense industry for close to three decades, I can honestly say that there is no one more qualified than Bill Swanson to lead Raytheon. His expertise and experience will be instrumental in the company’s continued growth and success going forward.”
Raytheon’s Senior Vice President and Chief Financial Officer Toby O’Brien chimed in saying: “Bill has been a key member of Raytheon’s leadership team throughout its storied history and I look forward to working with him to continue Raytheon’s track record of delivering innovative and mission-critical defense solutions for customers around the world.”
Under Swanson’s leadership, Raytheon has become one of the preeminent defense contractors in the world. His ability to drive strategy, foster innovation, and execute on sound business practices have made him a respected leader in the industry. With Swanson at the helm, Raytheon will continue to be a trusted partner for national security and the defense of freedom.
