General Dynamics Announces Rayha to Succeed Graney as President of Electric Boat
Rhea-AI Summary
General Dynamics (NYSE:GD) has announced leadership changes at its Electric Boat subsidiary. Kevin Graney, the current president of Electric Boat, will retire at the end of the year. He will be succeeded by Mark Rayha, currently serving as senior vice president and chief operating officer, effective December 1. Graney has been with General Dynamics for nearly 30 years, holding leadership roles at both NASSCO and Electric Boat. Rayha, a 35-year veteran of the company, has experience as CFO and COO of Electric Boat.
General Dynamics, a global aerospace and defense company, employs over 100,000 people across 65 countries and generated $42.3 billion in revenue in 2023. The company offers a broad portfolio of products and services in business aviation, ship construction and repair, land combat vehicles, weapons systems, munitions, and technology products and services.
Positive
- Smooth leadership transition with an experienced internal candidate
- Continuity in management with Mark Rayha's 35-year tenure at General Dynamics
- Strong revenue of $42.3 billion in 2023
Negative
- None.
News Market Reaction
On the day this news was published, GD declined 1.76%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
"Kevin has served General Dynamics with distinction for nearly 30 years, including tenures as president of both NASSCO and Electric Boat. His shipbuilding expertise and strong leadership have been instrumental to the performance and continuous improvement of both NASSCO and Electric Boat," said Phebe Novakovic, chairman and chief executive officer. "Mark is a 35-year veteran of General Dynamics and is a proven and capable leader. His experience as CFO and COO of Electric Boat will ensure that we continue to grow to support our nation's need for submarines."
Graney joined General Dynamics in 1995 and served in a variety of leadership roles at Electric Boat and NASSCO before becoming a general manager and then president of NASSCO from 2013 to 2019 and president of Electric Boat in 2019.
Rayha joined General Dynamics in 1989 at Land Systems. He became CFO of General Dynamics Mission Systems in 2015. He joined Electric Boat in 2020 and served as CFO from 2021 to 2023. He became chief operating officer in 2023.
General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people across 65 countries worldwide and generated
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SOURCE General Dynamics
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