14 DAY TRIAL // Apple has just announced that Dr. Ronald D. Sugar, former Chairman of the Board and CEO of Northrop Grumman Corporation, is now part of the Cupertino giant’s Board of Directors. According to Apple’s official announcement, Dr. Sugar will serve as the Chair of the Audit and Finance Committee.
Apple reveals that Dr. Sugar served as Chairman and Chief Executive Officer at Northrop Grumman Corporation from 2003 until his retirement in 2010. Sugar held executive positions at Litton Industries and TRW Inc., where he served as chief financial officer, prior to serving Northrop.
A member of the National Academy of Engineering and a fellow of both the American Institute of Aeronautics and Astronautics and the Royal Aeronautical Society, Sugar is currently a director of Chevron Corporation, Amgen Inc. and Air Lease Corporation.
He also serves as senior advisor to the private investment firm Ares Management LLC, Apple reveals.
Apple continues with Sugar’s credentials, noting that he holds the Judge Widney Chair as Professor of Management and Technology as a trustee of the University of Southern California.
He is a member of the boards of UCLA Anderson School of Management, the Los Angeles Philharmonic Orchestra and several other philanthropic organizations focused on children and education.
“Ron is an engineer at heart, who then became a very successful business leader. We are very excited to welcome him to Apple’s Board,” said Steve Jobs, Apple’s CEO.
Sugar graduated summa cum laude in engineering in 1968 from the University of California, Los Angeles, where he also received master’s and doctorate degrees in the same field. He subsequently completed executive programs at Stanford, Wharton and Harvard, Apple points out.
“In addition to having been the CEO of a high-tech Fortune 100 company, Ron has a Ph.D. in engineering and has been involved in the development of some very sophisticated technology,” Mr. Jobs added.
“I have always had enormous admiration for the people of Apple,” said Sugar. “It is a special privilege to serve on the board of such an amazing company.”