British Defence Minister Philip Hammond published the details of his plan to appoint a commercial company to manage the UK’s defense procurement. The controversial proposal has been mooted for more than a year and is Hammond’s response to what is widely perceived to be a long history of under-performance by the 15,000-strong Defence Equipment and Support (DE&S) organization.
ITT Corp. will spin off its defense segment into a standalone business–ITT Exelis–later this year. The new company will be based in McLean, Va., and led by David Melcher, currently president of ITT Defense and Information Solutions, as CEO. The company’s 2011 revenue is estimated at $5.8 billion. Christopher Bernhardt will continue to lead the Electronic Systems unit in Clifton, N.J.