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Two from Fort Worth appointed by Gov. Abbott to university boards

Steve Hicks, a University of Texas System regent who has been a vocal opponent of regents who have criticized the system’s flagship campus in Austin, was reappointed to the board by Gov. Greg Abbott on Thursday. 

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Fort Worth draws closer to deal with Lancaster developer

City staff are planning to introduce the developer Feb. 3 at a meeting of the City Council's Housing and Economic Development Committee.

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Compass BBVA names Happel CEO for Fort Worth

BBVA Compass has appointed Brian Happel, most recently the Fort Worth city president, its chief executive officer of Fort Worth.

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Fort Worth minority business receives nationwide grant

Cuevas Distribution Inc., a minority- and woman-owned business in Fort Worth, is one of 20 small businesses nationwide to receive a $150,000 grant from Chase as part of the Mission Main Street program.

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Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

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Raytheon names Kennedy to succeed Swanson as CEO

 

Jonathan D. Salant
(c) 2014, Bloomberg News

Thomas will be the new chief executive officer of Raytheon, the world's largest missile maker, beginning March 31.

Kennedy, 58, succeeds William Swanson, who has been CEO of the Waltham, Mass.-based contractor for a decade, the company said Wednesday in a statement. Swanson is stepping down as CEO next month after reaching age 65 and will remain chairman of the board.

Raytheon, the No. 4 U.S. contractor, is scheduled to release fourth-quarter earnings on Jan. 30, as investors watch for signs of continuing effects on defense contractors from automatic U.S. defense-budget cuts that were eased last month in a congressional budget agreement.

The company reported in October that its third-quarter profit fell 2.8 percent amid the cuts, known as sequestration, even as it raised its full-year earnings forecast because of increased sales internationally.

Kennedy, executive vice president and chief operating officer of Raytheon since April 2013, has been with the company for more than 30 years. He has served as president of the integrated defense systems unit and vice president of the space and airborne systems division. The Air Force veteran holds a doctorate in engineering from the University of California Los Angeles.

Raytheon's lead director, Vern Clark, said that Kennedy is "a proven leader with a broad understanding of key technologies, keen customer focus, and a deep understanding of Raytheon's business."

Last month, Raytheon was one of seven companies named to share a contract valued at up to $4 billion for research and development to counter weapons of mass destruction. It's the largest award handed out by the Defense Threat Reduction Agency to develop scientific and technological solutions to the threat of attacks on the U.S. using WMDs.

 

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