The Board of Directors elected C. Michael Petters, the company's former President and Chief Executive Officer who retired in January 2023, as a director effective October 19, 2026. The board simultaneously approved an increase in its size from eleven to twelve members. Mr. Petters was appointed to the Cybersecurity and Finance Committees and will receive an annual cash retainer of $130,000 plus committee retainers, along with a prorated equity grant valued at $195,000 in deferred stock units. Huntington Ingalls Industries is the nation's largest shipbuilder, constructing manned and unmanned maritime systems for the U.S. Navy.
