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Tuesday, January 20, 2015

Northrop hires former Pentagon official to head strategy, (NYSE: NOC)

Northrop Grumman Corp , one of the biggest U.S. weapons makers, said on Tuesday it hired Brett Lambert, a former top U.S. defense official and expert on mergers and acquisitions, to oversee corporate strategy. Lambert's hiring, effective Jan. 26, reflects growing pressure on Northrop to boost revenues and could help the company the navigate a future merger, said defense consultant Loren Thompson, chief operating officer of the Virginia-based Lexington Institute.Analysts say consolidation in the sector is long overdue.Lambert will spearhead Northrop Grumman's corporate and business strategies. At the Pentagon, he initiate a drive to better understand the defense industrial base and represented the Pentagon on the interagency Committee on Foreign Investment in the United States, which evaluates proposed acquisitions by foreign companies.Lambert has worked as a consultant since leaving the Pentagon in August 2013.

Northrop Grumman Corporation (Northrop Grumman) provides products, services, and integrated solutions in aerospace, electronics, information and services to its global customers. Shares of NOC fell by 0.53% or $-0.81/share to $152.52. In the past year, the shares have traded as low as $109.17 and as high as $154.98. On average, 1468690 shares of NOC exchange hands on a given day and today's volume is recorded at 591075.