William F. Ballhaus Jr. Elected CEO

EL SEGUNDO, Calif. (5/1/01) -- Dr. William F. Ballhaus Jr. has been elected chief executive officer of The Aerospace Corporation by the board of trustees effective May 1.

He succeeds Edward C. "Pete" Aldridge Jr., who has retired from Aerospace after more than nine years.

Ballhaus joined Aerospace in September 2000 as president and, until May 1, shared responsibility for company operations with Aldridge. Ballhaus now holds the title of president and CEO.

"It is an honor to follow in the distinguished footsteps of Pete Aldridge," Ballhaus said. "I am excited about the company's future and look forward to serving our employees, our customers, and the nation as we work together to meet the challenges of the 21st century."

Aldridge was nominated by President Bush on April 23 to be undersecretary of defense for acquisition, technology and logistics.