Visteon CFO Changes Heading to Northrop

James Palmer returns to the defense industry after a term with the auto-parts supplier.
Stephen TaubFebruary 13, 2007

Northrop Grumman has named James F. Palmer vice president and chief financial officer.

He succeeds Wesley G. Bush, who has handled those responsibilities in the interim since being promoted from CFO to president last May. Bush was also named to the additional post of chief operating officer.

They will assume their new positions on March 12.

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Palmer currently serves as executive vice president and CFO of Visteon. Before joining the auto-parts supplier in June 2004, he was president of Boeing Capital, senior vice president and chief financial officer of the McDonnell Douglas, and served 20 years at Ernst & Young, rising to partner.

At Northrop, Palmer will be responsible for the defense contractor’s overall business management function and activities including the controller; treasury; contracts, pricing, and supply chain; financial planning; tax; internal audit; investor relations; trust administration and investments; and financial process excellence functions. He will also “provide leadership to the business management organizations within the operating sectors of the company,” according to a Northrop statement.

Almost simultaneously, Visteon tapped chief accounting officer and corporate controller William G. Quigley III to succeed Palmer, effective March 9. Quigley, who joined the company in 2005, will continue as chief accounting officer after assuming the top finance job.