Aerojet Rocketdyne said on Monday that President and CEO Scott Seymour plans to retire after five years leading the rocket engine company and has been succeeded immediately by Eileen Drake, the company’s chief operating officer.

Drake, 48, joined Aerojet Rocketdyne in March from United Technologies Corp. [UTX], where she was president of Pratt & Whitney AeroPower’s auxiliary power unit and small turbojet propulsion business.

New Aerojet Rocketdyne President and CEO Eileen Drake. Photo: Aerojet Rocketdyne.
New Aerojet Rocketdyne President and CEO Eileen Drake. Photo: Aerojet Rocketdyne.

“Scott Seymour has enjoyed an exceptionally distinguished career, most recently focusing his strategic leadership and extensive knowledge of the aerospace industry on building a strong global portfolio of products that benefit our customers, shareholders, and employees,” Warren Lichtenstein, chairman of Aerojet Rocketdyne, said in a statement. “Scott was instrumental in our 2013 acquisition of Pratt & Whitney Rocketdyne, a bold move that merged two industry giants and has been pivotal in security the future growth of our company in a challenging marketplace.”

Drake will also succeed Seymour as a member of the company’s board.

“Eileen is a proven leader with strong expertise in transforming operations and implementing the innovative initiatives needed to build upon our reputation for mission success,” Lichtenstein said. “Her leadership will be instrumental in positioning our organization for continued growth and increased profitability.”

Lichtenstein said that Drake and Seymour will work together during the leadership transition. Seymour is 64.

Before joining Aerojet Rocketdyne, which was then known as GenCorp, Seymour was president of Northrop Grumman’s [NOC] Integrated Systems sector from 2002 to 2008 and also served as vice president of the company’s Air Combat Systems business and was the program manager on the B-2 stealth bomber program.