L-3 Communications Holdings, Inc. (LLL) said Wednesday that it has reorganized its business segments to better align its organizational structure with customer priorities and boost operational efficiencies. The new structure is effective immediately.
Accordingly, L-3's structure will now consist of four business segments: Aerospace Systems, Electronic Systems, Communication Systems and National Security Solutions.
The company named John McNellis as president of Aerospace Systems, which combines the operations of the former Platform & Logistics Solutions or P&LS segment, with Intelligence, Surveillance and Reconnaissance or ISR Systems.
ISR Systems was earlier part of the former Command, Control, Communications, Intelligence, Surveillance and Reconnaissance or C3ISR segment. Aerospace Systems segment had net sales of about $4.56 billion in 2013.
L-3 said that Steve Kantor will continue in his role as president of Electronic Systems, which includes all previous businesses except Microwave Products that is now part of Communication Systems. The segment had 2013 net sales of about $4.60 billion.
L-3 appointed John Mega as president of Communication Systems, which combines the operations of Microwave Products, with Networked and Secure Communications Products that was previously part of the former C3ISR segment. Communication Systems had 2013 net sales of about $2.17 billion.
Meanwhile, Les Rose will continue in his role as president of National Security Solutions, which remains unchanged. The segment had 2013 net sales of about $1.30 billion.
L-3 said it does not expect the realignment to have any impact on its consolidated financial guidance for 2014.
L-3 said it will present its new segments at its upcoming Investor Conference on March 25, 2014. The company will report its results under the realigned business segments commencing with its quarterly report on Form 10-Q for the period ending March 28, 2014.
LLL closed Tuesday's trading at $115.07, down $1.12 or 0.96 percent on a volume of 622,813 shares.
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