Northrop Grumman Names Kenneth Bedingfield CFO

(RTTNews) - Northrop Grumman Corp (NOC) said Monday its board has elected Kenneth Bedingfield as corporate vice president and chief financial officer, effective after the company files its 2014 annual report. Bedingfield will succeed James Palmer, who has announced his intention to retire in 2015.

In his new role, Bedingfield will be responsible for the company's overall business management function and activities including accounting, treasury, contracts and pricing, financial planning, among others. He will report to Wes Bush, the company's chairman, chief executive officer and president, and become a member of the company's Corporate Policy Council.

The company expects to file its annual report in February 2015, at which time Palmer will continue as a corporate vice president with the company until he retires in the summer of 2015.

Bedingfield joined Northrop Grumman in 2011. Currently, he is vice president, Finance, in the corporate office, has responsibility for operational finance matters across the company and all sector chief financial officers report to him.