updated 5/19/2011 12:17:26 PM ET 2011-05-19T16:17:26

LOS ANGELES, May 19, 2011 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC) announced today that its board of directors has elected Mark A. Caylor corporate vice president and treasurer effective May 21, 2011. Caylor reports to James F. Palmer, corporate vice president and chief financial officer.

Mark A. Caylor
Mark A. Caylor, corporate vice president and treasurer

A photo accompanying this release is available at http://media.globenewswire.com/noc/mediagallery.html?pkgid=9727

"Mark Caylor brings broad experience from his current position as the company's assistant treasurer and he has well-developed relationships with the banking community, making him well-suited for his new role," Palmer said.

As treasurer, Caylor will be responsible for all duties of the Corporate Treasury, including capital markets; capital structure; insurance and risk management; the execution of merger, acquisition and divestiture transactions; bank relationships; and cash management. He replaces Mark Rabinowitz, who has been elected corporate vice president, Finance.

"We thank Mark Rabinowitz for many years of valuable contributions to the company," Palmer said. "He will be working to assure a smooth transition through the corporate office move to Falls Church, Va., this summer."

Caylor most recently served as Northrop Grumman's director of Banking and Capital Markets and assistant treasurer, with responsibility for the development and implementation of the company's capital deployment strategy including dividends and share repurchase programs. He has also served as director of Mergers and Acquisitions.

Caylor began his Northrop Grumman career in 2002 as the director of Pricing and Cost Estimating at the company's Space Technology sector, where he also worked as deputy to the vice president of Technology Development. Prior to joining Northrop Grumman, he held a variety of management and engineering positions at other major aerospace companies.

Caylor earned a bachelor's degree in aeronautical and astronautical engineering from the Massachusetts Institute of Technology, a master's degree in aeronautics and astronautics from the California Institute of Technology, and a master's degree in business administration from UCLA's Anderson School of Management.

Northrop Grumman Corporation is a leading global security company providing innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.

CONTACT: Randy Belote
         (703) 875-8525

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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