Raytheon CFO Resigns Amid Regulatory Flap
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Raytheon Co.’s chief financial officer, Frank Caine, resigned weeks after being sanctioned by regulators. The company said Edward Pliner would replace Caine, who had been with Raytheon since 1999. Pliner, 44, has been Raytheon’s corporate controller since April 2000.
The Securities and Exchange Commission sanctioned Raytheon and Caine in November for allegedly violating its fair-disclosure rule, which is designed to keep companies from giving important information to analysts and big investors before alerting the public. Raytheon did not admit wrongdoing but agreed to refrain from violating the rule in the future.
Raytheon shares rose $1.20 to $29.72 on the NYSE.
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