:

Business/Financial

Aerojet Rocketdyne Chief Says Dissident Chairman Openly Explored New CEO, Approached Leidos For Deal

By Cal Biesecker

Monday, May 16th, 2022

SHARE:

Aerojet Rocketdyne Chief Says Dissident Chairman Openly Explored New CEO, Approached Leidos For Deal

Aerojet Rocketdyne President and CEO Eileen Drake. Photo: Aerojet Rocketdyne.

Warren Lichtenstein, the executive chairman of Aerojet Rocketdyne [AJRD] whose investment firm Steel Partners [SPLP] owns a minority share of the company’s stock and controls four of its eight board seats, was actively seeking to replace Aerojet CEO Eileen Drake with himself or his handpicked choice and even reached out to Roger Krone, chairman and CEO of Leidos [LDOS], to purchase the company while Lockheed Martin [LMT] already had an agreement to acquire Aerojet, Drake charged last September. Drake’s letter…

Congress

Warren And Sheehy Renew Call for “Right to Repair” In NDAA

Sen. Elizabeth Warren (D-Mass.) and Sen. Timothy Sheehy (R-Mont.), two members of the Senate Armed Services Committee (SASC), are renewing their call for “Right to Repair” language in the National […]

HASC Looks To Restrict USV Deliveries Without Navy CONOPS And Strategy

The House Armed Services Committee’s (HASC) fiscal year 2027 defense policy draft bill aims to restrict the Navy’s use of unmanned surface vessels (USV) until it decides on key factors […]

Congress

Gaps In Army’s Tactical Counter-Drone Capabilities Remain Concern Of HASC

A draft defense policy bill released this week says the Army is fielding counter-drone capabilities for defense of fixed sites and maneuver forces but suggests that troops at the lowest […]

Army

HASC Wants Closer Look At Army’s SBMC Program, Cites Avoiding Past IVAS Missteps

The House Armed Services Committee (HASC) wants a closer look at the Army’s Soldier Borne Mission Command (SBMC) effort, citing support for the development program while expressing caution to avoid […]