President Trump's Plans For The Military: How The New Commander-In-Chief Could Give Defense Companies A Boost
The International Business Times article, “President Trump's Plans For The Military: How The New Commander-In-Chief Could Give Defense Companies A Boost,” quoted Russell Reynolds Associates consultant Mercedes LeGrand about the expected boost in defense spending. The article is excerpted below.
Major defense companies' stocks shot up in the wake of Donald Trump's election victory, and for good reason, as experts predict firms like Lockheed Martin and General Dynamics will win hefty contracts and boost hiring in line with the president-elect's military expansion plans. But for that defense sector growth to occur, Trump faces an uphill battle convincing Democrats and fiscal conservatives in Congress that increasing the nation's defense budget by billions of dollars is smart policy.
Mercedes LeGrand, a consultant at executive search firm Russell Reynolds Associates who specializes in defense industry recruitment, said while this isn’t the first time defense companies have expected to benefit from an incoming president friendly to military buildup, the sector faces a bit more uncertainty this time around.
“With Trump, most folks feel he’s a bit of a wild card. But the expectation across the board is defense spending is going to be up, which is good for the industry,” LeGrand said.
LeGrand projected an uptick in hiring within areas of research and development, government affairs, government research, lobbying and government relations, as companies are "going to want people there who have access to the Trump administration." Executive positions presiding over government relations, she added, would likely see some personnel changes.
To read the full article, click here.