Raytheon Co. announced that its Board of Directors has elected Dr. Thomas A. Kennedy, age 58, to serve as the chief executive officer of Raytheon Co., effective March 31, 2014. Dr. Kennedy will succeed William H. Swanson, who has served as the CEO of Raytheon Co.since 2003, and who advised the board of his intention to step down from his position as CEO in March, following his 65th birthday next month.