Huntington Ingalls Industries (NYSE: HII) announced on October 19, 2026, that C. Michael Petters has been elected to the company’s Board of Directors, effective immediately. Mr. Petters previously served as the company’s President, Chief Executive Officer, and Executive Vice Chairman until his retirement in January 2023. He led the company from March 2011 until March 2022, overseeing its spin-off from Northrop Grumman.
During his tenure, Mr. Petters was responsible for oversight of the Virginia-class submarine program, nuclear-powered aircraft carrier programs, aircraft carrier overhaul and refueling, submarine fleet maintenance, commercial and naval ship repair, human resources, and business and technology development. The Board of Directors has appointed Mr. Petters to serve on both the Cybersecurity Committee and the Finance Committee.
In connection with his service, Mr. Petters is entitled to receive an annual cash retainer of $130,000. He will also receive additional retainers of $20,000 each for his service on the Cybersecurity and Finance Committees. Additionally, he will receive an annual equity grant of $195,000 in deferred stock units to be paid at the conclusion of his board service. These amounts will be prorated for the year 2026.
The Board also approved an increase in the size of the Board from eleven members to twelve members. Mr. Petters brings deep shipbuilding expertise to the Board, having joined Newport News Shipbuilding in 1987 and rising through the ranks to become president of the shipyard. He holds a bachelor’s degree in physics from the U.S. Naval Academy and an MBA from the College of William & Mary.
