Northrop Grumman Adds New Director

A former executive vice president and chief financial officer for Wal-Mart Stores Inc. was elected to the . board of directors, the company announced Friday.

Thomas M. Schoewe, who was the executive vice president and CFO of Wal-Mart from 2000 until 2010, is the 12th member of the board of directors. Eleven of the company's directors are not employees of Northrop Grumman.

"We look forward to benefitting from his extensive corporate experience and financial expertise as we continue to focus on performance for our shareholders, customers and employees," Wes Bush, the company's chairman, CFO and president, said in a statement.

Prior to his experience at Wal-Mart, Schoewe was a senior vice president and CFO for Black and Decker Corporation, where he also held other positions, and before that, he was the CFO and controller of Beatrice Consumer Durables Inc.

Schoewe currently serves on the boards of directors of Kohlberg Kravis Roberts and Company and Pulte Group Inc., according to a news release from Northrop Grumman. He received his Bachelor's of Business Administration in finance from Loyola University in Chicago.