BAE picks former Homeland Security head Chertoff as chairman
Chertoff has been a member of BAE System’s board of directors since
2010.
{mosads}BAE Systems Inc. is the U.S. division of London-based BAE
Systems PLC, Europe’s largest weapons-maker.It has about 46,000 employees in seven
countries and had sales of $17.9 billion in 2010.
Like all military contractors, BAE Systems Inc. is fighting for a shrinking piece of U.S. defense dollars, as the Pentagon is planning for budget
reductions. The Defense Department has proposed cutting $487 billion over the next
decade and is facing $500 billion in automatic cuts, which would take effect in January 2013.
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