HII's Mission Technologies Division Announces New Operating Model for Long-Term Business Growth

Core Viewpoint - HII's Mission Technologies division is consolidating its six operational groups into four to optimize for long-term growth, effective October 28, 2024 [1][2] Group Summaries - The new operational groups are: - All-Domain Operations, led by Todd Gentry, includes C5ISR operations, platforms and logistics support, and intelligence analysis [1] - Global Security, led by Michael Lempke, encompasses live, virtual, constructive (LVC) solutions, fleet sustainment, nuclear and environmental services, and the Australia business [1] - Warfare Systems, led by Grant Hagen, covers cyber and mission IT, electronic warfare, and C5ISR systems [1] - Uncrewed Systems, led by Duane Fotheringham, consists of unmanned underwater vehicles (UUVs), unmanned surface vehicles (USVs), and autonomy software [1] Operational Model - The four groups will align to a common operating model with specialized roles: operations leader, growth leader, portfolio leader(s), and quality leader [2] Financial Performance - Mission Technologies reported $2.7 billion in revenues for 2023, reflecting a 13% organic growth increase compared to 2022 [2] - In the first half of 2024, the division generated $1.5 billion in revenue, marking a 19% organic growth increase over the same period in 2023 [2] - The third quarter earnings will be announced on October 31, 2024 [2] Company Overview - HII is a global, all-domain defense provider and the largest military shipbuilder in the U.S., with a history of over 135 years in advancing national security [3] - The company employs a workforce of 44,000 and focuses on delivering critical capabilities from ships to unmanned systems, cyber, ISR, AI/ML, and synthetic training [3]