Corporate Watch : Raytheon : Who, Where, How Much?

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Raytheon Company A corporate profile website: http://www.raytheon.com By Corporate Watch UK Completed May 2002 WHO, WHERE, HOW MUCH? 2.1 Company headquarters 2.2 Raytheon in the UK 2.3 Subsidiaries 2.4 Structure/Ownership 2.5 Auditor 2.6 Board of Directors 2.1 Company headquarters Raytheon Company 141 Spring Street Lexington Massachusetts 02421 USA Tel: (001)781 862 6600 www.raytheon.com 2.2 The headquarters of their UK subsidiary is: Raytheon Systems Limited 80 Park Lane London W1K 7TR United Kingdom Tel: +44 (0)20 7569 5500 Fax: +44 (0)20 7569 5591 Web: www.raytheon.co.uk Other Raytheon offices in the UK include: Bedford Raytheon Systems Limited Unit H Bedford Business Centre Mile Road Bedford MK42 9TW Tel: +44 (0)1234 242500 Fax: +44 (0)1234 242501 Bristol Raytheon Systems Limited Argentum House Building 510 Bristol Business Park Coldharbour Lane Bristol BS16 1EJ Tel: +44 (0)117 906 3544 Broughton Raytheon Aircraft Services Limited and Raytheon Systems Limited Hawarden Airport Broughton North Wales CH4 0BA United Kingdom Tel: +44 (0)1244 523888 Fax: +44 (0)1244 523513 Glenrothes Raytheon Systems Limited Queensway Industrial Estate Glenrothes Fife KY7 5PY Scotland Tel: 01592 754311 Fax: 01592 759775 Harlow Raytheon Systems Limited The Pinnacles Harlow Essex CM19 5BB Tel: +44 (0)1279 426862 Fax: +44 (0)1279 410413 Londonderry Raytheon Systems Limited Peninsula Court Ulster Science & Technology Park Buncrana Road Londonderry BT48 0SL Northern Ireland Tel: +44 (0)28 7130 4000 Fax: +44 (0)28 7130 4100 Back to top 2.3 Wholly owned subsidiaries worldwide[22]: ELCAN Optical Technologies (ELCAN) [Spain] Raytheon Microelectronics España, S.A. [Spain] Raytheon Systems Canada Ltd [Canada] Raytheon Systems Company Australia [Australia] Raytheon Systems Limited [UK] Raytheon International, Inc. [Focused on expanding Raytheon's international business, Raytheon International, Inc. maintains business development offices in more than 25 countries] Joint Ventures: Raytheon Company and Thales Airsys - consortium to provide the Swiss Defence Procurement Agency with FLORAKO air defence system. Air Command Systems International (ACSI) - Raytheon and Thomson-CSF consortium to provide Air Command and Control System Level of Capability 1 (ACCS LOC1) to NATO. Raytheon and Thales - new joint venture encompassing air defence/command and control centres and ground-based air surveillance and weapons-locating radars. Awaiting US and French regulatory approval as of early 2001. Back to top 2.4 Structure/Ownership Raytheon is a publicly owned company, which sells its products across the world. It has 87,200 employees and sales in 2001 totaled $16.9 billion[24], equal to that of 2000 and down $0.3 billion from 1999[25]. Rest assured after September the 11th the company won’t be struggling for contracts. Raytheon has recently been reorganised into 6 business units: electronics systems; command, control, communication and integration systems; technical services company; aircraft integration systems; commercial electronics; Raytheon Aircraft Company Raytheon has a major UK subsidiary, Raytheon Systems Ltd. (see section on Subsidiaries) Raytheon has 2.1 million shares. They combined two sets of pre-existing shares into one in May last year and there were four shareholders who owned more than 5% of either class of these shares. They were: Franklin Resources, Inc., Charles B. Johnson, Rupert H. Johnson, Jr. and Templeton Global Advisors Limited: 11.4% Class A shares Capital Group International, Inc.: 10.9% Class A shares Capital Research and Management Company: 8.9% Class A shares Brandes Investment Partners, L.P.: 7.1 % Class B shares Raytheon shareholder information: http://investor.raytheon.com/shareholder.cfm (Source: Raytheon Company) Raytheon stock performance: http://investor.raytheon.com/index3.cfm (Source: Raytheon Company) 2.5 Auditor Raytheon paid PriceWaterhouseCoopers $51 million in 2000, though only 3 million of that was directly for audit fees. A further $23 million was for ‘Financial Information Systems’, $3 million for Internal Audit Services, $7 million for tax advice and tax return assistance and $6 million for foreign statutory audits and carve-out audits in support of divestitures. The remaining $9 million comes under the bracket ‘All Other Fees.’[44] Back to top 2.6 Board of Directors Daniel P. Burnham Chairman and CEO Burnham joined Raytheon on 1st July 1998 from AlliedSignal Inc. where he most recently served as vice chairman and a member of the board of directors. Prior to joining AlliedSignal Inc. Burnham held positions within The Carborudum Company from 1971 to 1982. He is chairman of the President’s National Security Telecommunications Advisory Committee (NSTAC), a member of the Defence Policy Advisory Committee on Trade (DPACT), a trustee for Xavier University, member of the Business Council and a member of the Fleet Boston Financial Corporation Board of Directors.[26] Robin L. Beard Executive Vice President, Business Development, Chief Executive Officer, Raytheon International, Inc. Prior to his current post he was president of Raytheon International Europe. He served as chairman of Hughes Europe and vice-president of Hughes Electronics Corporation, which he joined in October 1995. Prior to that he served two terms (1984-1987, 1992-1995) as Assistant Secretary General of the North Atlantic Treaty Organisation (NATO). He chaired a number of high-level bodies, most notably the Conference of National Armaments Directors, which is the supreme NATO body responsible for all defence equipment matters. For his NATO efforts he received the U.S. Department of Defence’s highest award for distinguished service from the defence secretary William Perry. Beard was the youngest appointed cabinet minister in the administration of Tennessee Governor Dunn, and was the Tennessee representative in the U.S. congress from 1972-1983. He serves on the US Egypt President’s Council as one of its 15 U.S. members who provide the US and Egypt with business community views, concerns and council in ways to expand bilateral trade and investment ties.[27] Thomas M. Culligan Executive Vice President, Business Development , Chief Executive Officer, Raytheon International, Inc. He is on the executive committee of the National Defence Industrial Association. Their meetings and events are described as ‘the best defence forums for knowledge, networking and access to key decision makers.’[28] Frank S. Marchilena Executive Vice President , President, Command, Control, Communication and Information Systems Joined Raytheon in 1967 and is a member of the US Defense Science Board.[29] This government board exists to advise the government on ‘scientific, technical, manufacturing, acquisition process, and other matters of special interest to the Department of Defense.’[30] William H. Swanson Executive Vice President , Raytheon Company , President, Electronic Systems Neal E. Minahan Senior Vice President and General Counsel , Raytheon Company Keith Peden Senior Vice President, Human Resources Other directors include: Former CIA director John M. Deutch Former NATO supreme commander John R. Galvin Former New Hampshire Senator Warren B. Rudman More information and photos of the directors at: ../ra Back to top References [22] 'US Defense Industry, global Partnerships', Defence Systems Daily web-site:http://defence-data.com/current/pagerip2.htm#EURC"> http://defence-data.com/current/pagerip2.htm#EURC accessed 16 April 2002 [23] 'US Defense Industry, global Partnerships', Defence Systems Daily web-site: http://defence-data.com/current/pagerip2.htm#EURC accessed 16 April 2002 [24] 'Raytheon Reports Fourth Quarter Results', web-site: www.prnewswire.com/cgi-bin/micro_stories.pl?ACCT=149999&TICK;=RTN&STORY;=/www/story/01-23-2002/0001654074&EDATE;=Jan+23,+2002 accessed 17 April 2002 [25] Raytheon Annual Report 2000 [26] 'Profile CEO Burnham', source: Raytheon, web-site: http://www.raytheon.com/newsroom/profiles/burnham.pdf accessed 17 April 2002 [27] Raytheon web-site: www.raytheon.com/newsroom/profiles/beard.pdf accessed 17 April 2002 [28]National Industrial Defense Association web-site: http://www.ndia.org/ accessed 17 April 2002 [29]Biography Marchilena, source: Raytheon, web-site: http://www.raytheon.com/newsroom/profiles/marchilena.pdf+Frank+S.+Marchilena+&hl;=en accessed 17 April 2002 [30]Defense Science Board web-site: http://www.acq.osd.mil/dsb/charter.htm accessed 17 April 2002		Raytheon Overview Who, Where, How Much? 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