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L3 Technologies Inc (LLL.N) said on Sunday it hired former senior Lockheed Martin Corp (LMT.N) executive Steve O'Bryan as its global chief of business development, the latest in a series of appointments aimed at expanding the company's reach. O'Bryan's departure from Lockheed this past spring had come as a surprise to many in the industry, given his long years of work drumming up business for the company's F-35 fighter jet and in more recent years, helicopters, warships and other weapons. At L3, O'Bryan will be responsible for all aspects of organic growth, including U.S. military programmes and foreign sales, the company said.
For L3 Technologies Inc (LLL.N), it's not a case of if but when the maker of everything from airport scanners to night vision equipment for the military will get bigger through acquisitions. The path that recently minted Chairman and CEO Chris Kubasik takes to deliver that growth to investors, however, is the big question. Bankers and industry executives are watching closely to see if L3 risks its investment grade credit rating with a major deal that could dwarf its acquisitions in the past.