Sanjay Chawla was named vice president, pension investments at Raytheon Co., taking on some of the duties of Richard Goglia, who is retiring as vice president and treasurer, effective March 31, spokesman Mike Doble said.
A search for Mr. Goglia's replacement is underway. Mr. Doble said a replacement is expected to be named within the next few months.
Mr. Chawla's position is new. He will lead Raytheon's pension investments team and be responsible for managing the company's $33 billion pension assets, including overseeing the performance, development, execution and implementation of investment strategies, as well as the assets of all the company's employee benefit plans. He will report to the new treasurer.
Mr. Chawla was director of pension investments at Raytheon. He will retain those responsibilities.
Separately, Raytheon's board announced the company expects to make required contributions of about $335 million and $25 million to its U.S. pension and other postretirement benefit plans, respectively, in 2015.