Hanwha Aerospace said on the 3rd that Michael Coulter (photo), global head of defense, resigned as chief executive and will become the new CEO (head) of Hanwha Aero's U.S. defense unit (HDUSA).
The personnel move is a preemptive step to make a full-fledged entry into the United States, the world's largest defense market and Hanwha Aero's most important strategic market. A Hanwha Aero official said it was "to prepare for expansion of businesses such as shipbuilding and self-propelled howitzers going forward."
Coulter will focus the group's capabilities to strengthen partnerships in the United States and expand its influence, while supporting Hanwha's existing global defense business. Coulter previously held key U.S. government posts, including deputy assistant secretary of state for political-military affairs. After serving as president of Leonardo DRS Global, a leading global defense company, Coulter was appointed Hanwha Aerospace CEO last year.
Mike Smith, currently head of HDUSA, will move to chief operating officer (COO) of HDUSA and head of the ground defense business. He is expected to work with the new CEO, Coulter, to lead business execution and operations at a practical level.
Hanwha Aero said the positions of Kim Dong-Kwan, head of the strategy sector (vice chairman), and Son Jae-il, head of the business sector, will remain unchanged after the personnel move.