Benzinga | Jan 28, 2022 11:04AM EST

Huntington Ingalls Industries Names Chris Kastner To Succeed Mike Petters As CEO

* Huntington Ingalls Industries Inc (NYSE:HII) board elected Chief Operating Officer Chris Kastner to become President and Chief Executive Officer, effective March 1, 2022.

* The board also elected president and CEO Mike Petters to become executive vice-chairman of the board for a transition period.

* Petters will support the leadership transition as executive vice chairman and will remain an HII employee through 2022.

* Kastner was promoted to his current COO position in February 2021, after serving as HII's EVP and CFO since March 2016.

* HII noted Kastner's selection to succeed Petters is part of the multi-year succession planning process.

* Price Action: HII shares are trading lower by 2.27% at $184.16 on the last check Friday.