LOS ANGELES, Feb. 26, 2001 (PRIMEZONE) -- Northrop Grumman Corporation (NYSE:NOC) announced today that Lewis W. Coleman was elected to its board of directors at its meeting held Feb. 21, increasing the board to 13 members.
Mr. Coleman recently became president of the Gordon E. and Betty I. Moore Foundation in San Francisco, Calif., a newly created organization devoted to bringing measurable improvements in education, scientific research and the preservation of biodiversity. He accepted this position following a distinguished 27-year career in the banking industry.
"Lewis Coleman's strong financial background will be an asset to our board," said Kent Kresa, chairman, president and chief executive officer of Northrop Grumman. "He will also provide strategic guidance in many key areas that are important to our continued success."
Prior to his current position, he was chairman of Banc of America Securities L.L.C., a subsidiary of Bank of America Corporation in San Francisco. Mr. Coleman previously served as vice chairman of the board of directors and chief financial officer for Bank of America. Before that, he was head of the World Banking Group, assuming that position after he earlier directed its capital markets where he was responsible for all trading activity. He joined the bank in 1986 as chief credit officer for the group.
Before joining Bank of America, he spent 13 years with Wells Fargo and Company in a variety of wholesale and retail positions, completing his career there as chairman of the credit policy committee. Mr. Coleman earned a B.A. in economics from Stanford University. He is also on the board of Chiron Corporation, a biotechnology company.
Northrop Grumman Corporation, headquartered in Los Angeles, is a world-class, high technology company providing innovative solutions in systems integration, defense electronics and information technology for its U.S. and international military, government and commercial customers, as a prime contractor, principal subcontractor, team member or preferred supplier. The company had revenues of $7.6 billion in 2000 and has a workforce of approximately 39,000 employees.
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