AlliedSignal Aerospace president Daniel Burnham has resigned to become the president and chief operating officer (COO) of Raytheon Company, effective 1 July.
On 1 December, Burnham will succeed Dennis Picard as Raytheon's CEO. Burnham joined AlliedSignal in 1982 as vice president and controller, was president of its aerospace sector from 1992 through 1997 and vice chairman since October 1997.
"Dan has made very substantial contributions to the success of AlliedSignal during his 16 years with the company," says AlliedSignal chairman, Lawrence Bossidy. "He led AlliedSignal Aerospace through some of its most trying and later most successful times. We wish him only the best in his new position."
AlliedSignal vice chairman, Fred Poses, will replace Burnham, assuming the roles of president and COO. Poses will oversee all of the company's aerospace businesses, in addition to Electronic Materials, Truck Brake Systems, Business Services, International and the company's growth and productivity initiatives.
Bossidy says Poses was instrumental in transforming the company's former Engineered Materials sector from a "hodge-podge of small regional commodity businesses into a concentrated group of global growth businesses".
"Fred is a master at achieving substantial productivity gains while at the same time growing the top line through new product development, globalization and acquisitions," Bossidy adds. "His innate humanity has given him an outstanding ability to connect with people, and his intellect and broad range have enabled him to develop a superior business sense."
Poses joined AlliedSignal in 1969 as a financial analyst. He was named general manager of the company's Home Furnishings division in 1977. In 1979, he became vice president and general manager of the Engineering Plastics division, and in 1986 was named president of the Fibers division.
From 1988 to 1997, Poses served as executive vice president of AlliedSignal, and president of the Engineered Materials division. He was elected vice chairman and member of the board of directors in October 1997.