NEWPORT NEWS, Va., April 7, 2011 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries, Inc. (NYSE:HII) announced today three additions to the senior leadership team for the company's corporate business management and finance office functions. HII, previously known as Northrop Grumman Shipbuilding, began operating on March 31 as an independent, publicly traded company after being spun off from Northrop Grumman Corp.
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- D.R. "Rick" Wyatt has been promoted to corporate vice president, treasurer
- Andy Green has joined the company as corporate vice president, investor relations
- Dwayne B. Blake has been promoted to corporate vice president, internal audit
Wyatt, Green and Blake join Doug Fontaine, corporate vice president, controller and chief accounting officer, who previously served on the Northrop Grumman Shipbuilding senior team. All report to Barbara A. Niland, corporate vice president, business management, and chief financial officer.
"Rick and Dwayne bring more than 50 years of combined shipbuilding business experience to the financial leadership team," Niland said, "and Andy has an impressive background as a naval officer and an investment research analyst covering the defense and aerospace industry. I'm confident we have a great team in place to ensure HII's success, and I'm excited about the opportunities that lie ahead."
As corporate vice president, treasurer, Wyatt is responsible for banking and credit, corporate finance, cash forecasting and management, insurance and risk management, investments and trusts, financings, capital structure, capital markets interface, rating agency relationships, short-term investments, and pension asset management.
Wyatt joined Newport News Shipbuilding in 1982 and has held various positions in the financial area of the company, including cost estimating, cost control, accounting, financial analysis and government accounting. Prior to being appointed treasurer of HII, he served as director of business management, treasurer and assistant treasurer of Newport News Shipbuilding, and manager of finance. Wyatt earned a bachelor's degree in economics from Hampden-Sydney College and an M.B.A. from Old Dominion University.
As corporate vice president, investor relations, Green acts as the primary interface between the investment community and the company, helping to educate institutional investors and research analysts on the company's business strategy, operations and financial results. He also works closely with the finance, communications and legal teams to analyze financial results, develop earnings announcements and prepared remarks, perform competitor and stock trading analyses, and ensure compliance with all SEC regulations.
Prior to joining HII, Green was most recently vice president of investor relations at Celanese Corp., a Dallas-based chemical company, and was an investment research analyst at Wachovia Capital Markets for more than 12 years, covering the defense and aerospace industry. Green successfully completed the U.S. Navy's nuclear power program and served as an officer aboard the ballistic missile submarine USS Tecumseh (SSBN 628), qualifying both as engineer officer and strategic weapons systems officer. He holds a bachelor's degree in systems engineering from the United States Naval Academy and an M.B.A. from Duke University.
As corporate vice president, internal audit, Blake is responsible for establishing and maintaining an effective, centralized internal audit program that provides independent and objective evaluation of control systems and operational effectiveness and assists management in the discharge of their responsibilities in order to achieve company objectives. This includes development of a flexible annual audit plan using an appropriate risk-based methodology, which considers any risks or control concerns identified by management, the audit committee and the independent auditor.
Blake joined Newport News Shipbuilding in 1984 and has held positions of increasing responsibility in engineering, treasury, business management and contracts and pricing. Most recently, Blake served as director of business planning for Northrop Grumman Shipbuilding, responsible for supporting the sector staff in defining the business success strategy and associated initiatives and tactical actions required to emerge as the world's best shipbuilder. He earned a bachelor's degree in finance from Hampton University in 1984 and an M.B.A. from Old Dominion University in 1994.
Huntington Ingalls Industries (HII) designs, builds and maintains nuclear and non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe. For more than a century, HII has built more ships in more ship classes than any other U.S. naval shipbuilder. Employing nearly 38,000 in Virginia, Mississippi, Louisiana and California, its primary business divisions are Newport News Shipbuilding and Ingalls Shipbuilding. For more information, please visit www.huntingtoningalls.com.
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Statements in this release, other than statements of historical fact, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed in these statements. Factors that may cause such differences include: changes in government and customer priorities and requirements (including government budgetary constraints, shifts in defense spending, and changes in customer short-range and long-range plans); our ability to obtain new contracts, estimate our costs and perform effectively; risks related to our spin-off from Northrop Grumman (including our increased costs and leverage); our ability to realize the expected benefits from consolidation of our Gulf Coast facilities; natural disasters; adverse economic conditions in the United States and globally; and other risk factors discussed in our filings with the U.S. Securities and Exchange Commission. There may be other risks and uncertainties that we are unable to predict at this time or that we currently do not expect to have a material adverse effect on our business, and we undertake no obligations to update any forward-looking statements.
CONTACT: Jerri Fuller Dickseski email@example.com 757-380-2341