THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Wednesday, September 14, 1994 TAG: 9409140523
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
SOURCE: STAFF REPORT
LENGTH: Short : 44 lines
Tenneco Inc. has named W.R. ``Pat'' Phillips chairman of Newport News Shipbuilding, it announced Tuesday.
Phillips, 63, has been chief executive and president of the Peninsula shipyard since January 1992.
Newport News Shipbuilding is Virginia's largest employer with just more than 20,000 workers. A subsidiary of Houston-based Tenneco, it had sales of $1.9 billion in 1993.
Phillips, who will retain the chief executive title, will focus on the yard's strategic initiatives to develop new markets.
The shipyard, long dependent on Navy shipbuilding, is attempting to diversify into Navy ship repair, commercial shipbuilding and repair, and other lines of business as the Navy shrinks.
William P. ``Bill'' Fricks will assume the posts of president and chief operating officer. Fricks, who has been the yard's executive vice president, will oversee the day-to-day work of the yard and its cost-reduction programs.
While the shipyard expects to win a contract to build a new aircraft carrier, which will add $3 billion to its backlog, it still plans to cut its work force to between 14,000 and 15,000 by the end of 1996.
``Both Pat and Bill have the wealth of experience needed to lead the nation's best shipyard in constructing and repairing Navy submarines and surface ships while pursuing with unrelenting efforts the new opportunities before us,'' said Dana G. Mead, Tenneco chairman and chief executive.
Phillips has worked at the yard for 45 years since he started as an apprentice machinist. Fricks joined the yard in 1966 as an industrial engineer. ILLUSTRATION: Photos
Phillips
Fricks
by CNB