Kent Kresa

Last updated
Kent Kresa
Born (1938-03-24) March 24, 1938 (age 86)
New York City, US
Education Massachusetts Institute of Technology (BS, MS, EAA)
Occupationbusinessman
Title Northrop Grumman (Former Chairman & CEO)
General Motors (Former Chairman)
Parent

Kent Kresa (born March 24, 1938) is an American businessman. Formerly, he was chairman and CEO of Northrop Grumman, as well as chairman of General Motors; and has worked with the Defense Advanced Research Projects Agency (DARPA), the Lincoln Laboratory at M.I.T, Avery Dennison, the Fluor Corporation, and the MannKind Corporation. [1] Before being appointed as interim chairman of General Motors as a result the decisions made by President Barack Obama, Kresa was on the board.

Contents

Education

Kresa was born in New York City; his father was the songwriter Helmy Kresa. [2] He has B.S., M.S., and E.A.A. degrees from Massachusetts Institute of Technology in aeronautics and astronautics, and received an honorary doctorate from Pepperdine University in 2003.

Career

Kresa's career began when he was employed by the top-secret DARPA, where he was responsible for broad, applied research and development programs in the tactical and strategic defense arena. Then from 1961–68, Kresa was associated with the Lincoln Laboratory at the Massachusetts Institute of Technology (M.I.T.), where he worked on ballistic missile defense research and reentry technology. Kresa then joined Northrop in 1975, became Chairman in 1987, then CEO in 1990. [3] [4]

In 1997, he was elected as a member into the National Academy of Engineering for contributions in aeronautical technology.

When Kresa took over Northrop Grumman, he transformed the company, which like GM was on the brink of extinction. [5] In a 2002 Los Angeles Times interview when the company was on the verge of closing, Kresa was quoted saying, "We could just go out of business and give money back to our shareholders or we could reinvent ourselves...It became clear to us we could take the latter path." [6]

Under Kresa's control, Northrop Grumman was transformed resulting in the acquisition of 16 companies including TRW (with its Space Park in Redondo Beach, California). [5] Overall, Northrop went from an annual revenue of $5 billion to $28 billion during the time of the Gulf War. Kresa retired from head of Northrop in 2003. [6]

On November 3, 2003, the Carlyle Group hired Kresa as a Senior Advisor to its aerospace and defense group. Kresa commented on his hiring by stating, “I’ve known the Carlyle executives for many years and have an abiding respect for their approach and judgment. For years, Carlyle has played a significant role in the aerospace and defense market. Carlyle has a straightforward approach to its business and delivers on its promises. I’m delighted to be associated with them.” [3]

He was named the Chairman of GM on March 30, 2009, after Rick Wagoner, the Chairman and CEO of GM was ordered to resign by U.S. President Barack Obama. [7] In an interview in 2008, he was asked if he thought that bailout money should come with a requirement that Wagoner be ousted. He replied "...And we're going to have to look at whatever the demands are from the individual who's bringing the money. But I don't think it's reasonable." [8] Kresa was replaced as Chairman by former AT&T CEO Ed Whitacre on July 10, 2009.

Related Research Articles

<span class="mw-page-title-main">General Motors</span> American multinational automotive company

General Motors (GM) is an American multinational automotive manufacturing company headquartered in Detroit, Michigan, United States. The company is most known for owning and manufacturing four automobile brands, Chevrolet, GMC, Cadillac and Buick. By sales, it was the largest automaker in the United States in 2022, and was the largest in the world for 77 years before losing the top spot to Toyota in 2008.

<span class="mw-page-title-main">Supercavitation</span> Use of a cavitation bubble to reduce skin friction drag on a submerged object

Supercavitation is the use of a cavitation bubble to reduce skin friction drag on a submerged object and enable high speeds. Applications include torpedoes and propellers, but in theory, the technique could be extended to an entire underwater vessel.

<span class="mw-page-title-main">Northrop Grumman</span> Aerospace and defense technology corporation

Northrop Grumman Corporation is an American multinational aerospace and defense technology company. With 95,000 employees and an annual revenue in excess of $30 billion, it is one of the world's largest weapons manufacturers and military technology providers. The firm ranked No. 101 on the 2022 Fortune 500 list of America's largest corporations.

<span class="mw-page-title-main">Northrop Grumman X-47A Pegasus</span> Type of aircraft

The Northrop Grumman X-47 is a demonstration unmanned combat aerial vehicle. The X-47 began as part of DARPA's J-UCAS program, and is now part of the United States Navy's UCAS-D program to create a carrier-based unmanned aircraft. Unlike the Boeing X-45, initial Pegasus development was company-funded. The original vehicle carries the designation X-47A Pegasus, while the follow-on naval version is designated X-47B.

<span class="mw-page-title-main">Vought</span> 1917–1992 series of American aerospace companies

Vought was the name of several related American aerospace firms. These have included, in the past, Lewis and Vought Corporation, Chance Vought, Vought-Sikorsky, LTV Aerospace, Vought Aircraft Companies, and Vought Aircraft Industries.

<span class="mw-page-title-main">Leroy Grumman</span> American engineer and industrialist

Leroy Randle "Roy" Grumman was an American aeronautical engineer, test pilot, and industrialist. In 1929, he co-founded Grumman Aircraft Engineering Co., later renamed Grumman Aerospace Corporation, and now part of Northrop Grumman.

<span class="mw-page-title-main">Rick Wagoner</span> American businessman

George Richard "Rick" Wagoner Jr. is an American businessman and former chair and chief executive officer of General Motors. Wagoner resigned as chairman and CEO at General Motors on March 29, 2009, at the request of the White House. The latter part of Wagoner's tenure as CEO of General Motors found him under heavy criticism as the market valuation of GM went down by more than 90% and the company lost more than US$82 billion. He is a board member of ChargePoint, an electric vehicle infrastructure company.

Ronald D. Sugar is an American business executive. He was the chairman of the board and chief executive officer of the Northrop Grumman Corporation from 2003 to 2009. In August 2018 he was elected as chairman of Uber.

<span class="mw-page-title-main">Donald C. Winter</span>

Donald Charles Winter is an American technologist and business leader who served as United States Secretary of the Navy. A former top executive of TRW, Aerospace & Defense, he was nominated in 2005 by President George W. Bush, confirmed by the United States Senate, and took the oath of office on January 3, 2006. In January 2009 Defense Secretary Robert Gates requested that Winter remain in office until President Obama picked his successor on March 13, 2009. He resigned on March 13.

<span class="mw-page-title-main">Daniel Akerson</span> Former Chairman & CEO of General Motors

Daniel Francis Akerson is the former chairman and CEO of General Motors, serving from 2010 to 2014. Akerson succeeded Edward Whitacre as CEO on September 1, 2010, and became chairman of the board on January 1, 2011. He was succeeded by General Motors CEO Mary Barra. Akerson was a managing director of The Carlyle Group and head of global buyout prior to joining General Motors. He joined the General Motors board of directors on July 24, 2009. Akerson also serves on the boards of American Express and the U.S. Naval Academy Foundation, and in 2014 joined The Carlyle Group as a Vice Chairman and Special Advisor to the Board of Directors.

<span class="mw-page-title-main">Moraine Assembly</span> Automobile factory in Moraine, Ohio, United States

Moraine Assembly was a General Motors automobile factory in Moraine, Ohio, United States, a suburb of Dayton. A Frigidaire appliance plant had originally operated on the site from 1951 to 1979. Starting in 1981, the Chevrolet S-10 small pickup was produced. This same model was produced by Shreveport Assembly. In 1987 through 1994 the plant produced the rolling chassis for the Grumman LLV Postal Vehicle. From 2001 through 2008, the plant produced the GMT360 SUVs. The plant was closed in December 2008. In 2014, the facilities were acquired by Fuyao Glass to produce glass for vehicles.

<span class="mw-page-title-main">Northrop Grumman X-47B</span> Unmanned combat air vehicle demonstrator built by Northrop Grumman

The Northrop Grumman X-47B is a demonstration unmanned combat aerial vehicle (UCAV) designed for aircraft carrier-based operations. Developed by the American defense technology company Northrop Grumman, the X-47 project began as part of DARPA's J-UCAS program, and subsequently became part of the United States Navy's Unmanned Combat Air System Demonstration (UCAS-D) program. The X-47B is a tailless jet-powered blended-wing-body aircraft capable of semi-autonomous operation and aerial refueling.

Frederick Arthur "Fritz" Henderson was President and Chief Executive Officer of General Motors. Prior to his appointment as CEO on March 31, 2009, Henderson was the Vice President of General Motors and had been with the company since 1984. Frederick Henderson resigned as the CEO of General Motors on December 1, 2009.

<span class="mw-page-title-main">National Space Council</span> Presidential advisory body focused on US space policy

The National Space Council is a body within the Executive Office of the President of the United States created in 1989 during the George H. W. Bush administration, disbanded in 1993, and reestablished in June 2017 by the Donald Trump administration. It is a modified version of the earlier National Aeronautics and Space Council (1958–1973).

The Howard Hughes Memorial Award is an aviation industry award presented annually by the Aero Club of Southern California. According to the Association's official website, the award is given "to an aerospace leader whose accomplishments over a long career have contributed significantly to the advancement of aviation or space technology."

Braddock, Dunn & McDonald, later known as BDM, then BDM International, was a technical services firm founded in 1959 in New York City. Its founders were Dr. Joseph V. Braddock, Dr. Bernard J. Dunn, and Dr. Daniel F. McDonald, who each received a PhD from Fordham University in the Bronx, New York. In 1997, TRW purchased BDM, and in 2002 Northrop Grumman bought TRW.

The 2009 General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through Chapter 11, Title 11, United States Code in the United States bankruptcy court for the Southern District of New York. The United States government-endorsed sale enabled the NGMCO Inc. to purchase the continuing operational assets of the old GM. Normal operations, including employee compensation, warranties, and other customer services were uninterrupted during the bankruptcy proceedings. Operations outside of the United States were not included in the court filing.

Wesley G. Bush is an American systems engineer and business executive. He is the former CEO and chairman of Northrop Grumman, and he is currently a director of General Motors, Dow Inc., and Cisco.

<span class="mw-page-title-main">LGM-35 Sentinel</span> Intercontinental ballistic missile

The LGM-35 Sentinel, also known as the Ground Based Strategic Deterrent (GBSD), is a future American land-based intercontinental ballistic missile system (ICBM) currently in the early stages of development. It was slated to replace Minuteman III missiles from 2029 through 2075. The Minuteman missiles are currently stationed in North Dakota, Wyoming, Montana, and Nebraska.

References

  1. ↑ "Kent Kresa Profile - Forbes.com". Forbes. Archived from the original on April 3, 2009.
  2. ↑ Business Week article
  3. 1 2 "The Carlyle Group : Kent Kresa, Former Chairman and CEO of Northrop Grumman, to Join Carlyle as Senior Advisor". Archived from the original on 2011-07-08. Retrieved 2009-03-31.
  4. ↑ "AIAA - Aerospace America Online - CONVERSATIONS - with Kent Kresa". Archived from the original on 2010-03-07. Retrieved 2009-03-30.
  5. 1 2 Lubove, Seth (2003-01-06). "Company of the Year: Northrop—We See You, Saddam". Forbes . Archived from the original on February 24, 2003. Retrieved 2011-08-24.
  6. 1 2 Pae, Peter (March 31, 2009). "New GM chief Kent Kresa has been here before". Los Angeles Times.
  7. ↑ GM chief Wagoner ousted by Obama
  8. ↑ "Q&A with General Motors director Kent Kresa". 2008-12-09.
Business positions
Preceded by Chairman of General Motors
2009		Succeeded by
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.