Leonardo's Coulter named Hanwha Aerospace’s 1st foreign global chief

Hanwha Aerospace Co., a leading South Korean defense company, said on Monday it has hired Michael Coulter, a former senior executive at US-based Italian defense firm Leonardo DRS, as head of its global defense business.

Hanwha Aerospace, the aircraft engine-making unit of Hanwha Group, said Coulter will oversee the group’s overseas defense business, including operations run by affiliates Hanwha Ocean Co. and Hanwha Systems Co.

He will be the first foreign executive in charge of the defense business at a large Korean company.

Hanwha Aerospace’s Korea business will be led by its current CEO Son Jae-il.

Hanwha officials said the company decided to tap Coulter as its global defense business chief in order to more aggressively tackle international markets.

The role is newly created, according to the company, underscoring Hanwha Aerospace’s international sales ambitions.

“With the recruitment of Michael Coulter, we aim to grow into a world-class defense company by offering integrated land, sea and air defense solutions, focusing on core global markets such as the US,” said a Hanwha Aerospace official.

MILITARY AND GOVERNMENT BACKGROUND

“I’m honored to be asked to join one of the most respected companies in the world,” said Coulter. “While serving in the industry, I’ve been impressed by Hanwha’s continued growth as a leader in aerospace and defense and the commitment to deliver for its customers.”

Coulter served as senior vice president of Corporate Business Development at Leonardo DRS and president of Leonardo DRS International.

Before joining Leonardo DRS, Coulter worked for General Dynamics Corp., where he led the company’s international business development initiatives.

He joined the aerospace and defense industry after a career in the US government.

At the Department of Defense, Coulter served as acting assistant secretary of defense; principal deputy assistant secretary of defense for international security affairs; and principal deputy director for strategic plans and policy of the Joint Staff.

Before his time at the Pentagon, Coulter served at the Department of State as deputy assistant secretary of state for political-military affairs.

A reserve officer in the US Navy with multiple combat tours and experience in the Middle East, Europe, Asia and Africa, Coulter, in his military capacity, has also served within the North Atlantic Treaty Organization, the Defense Intelligence Agency, the Office of Naval Intelligence and the Office of the Chief of Naval Operations.

PRIORITIES AT HANWHA

Industry officials said his priorities at Hanwha will include arms sales in Europe and the Middle East, as well as Hanwha Ocean's submarine maintenance, repair and overhaul (MRO) business in the US and other markets.

Under the incoming Donald Trump administration, Hanwha is expected to gain ground in the US submarine MRO market, which is estimated at 20 trillion won ($14 billion) a year.

Hanwha Aerospace, Korea’s answer to Elon Musk’s SpaceX, has been ambitiously pursuing aerospace and defense businesses after absorbing Hanwha Defense Co. in 2022 to create synergy and cut costs.

Earlier this year, the company said it was spinning off its non-core units to focus on the defense and aerospace businesses — key growth engines of the chemical-to-defense industry conglomerate.

Hanwha Aerospace has been one of Korea’s leading weapons system exporters.

In April, the company signed a $1.64 billion deal to supply 72 units of the Chunmoo multiple-launch rocket system to Poland.

The $1.64 billion Chunmoo contract is part of an estimated $22 billion agreement Korea sealed with Poland in 2022.

Write to Sang-Hoon Sung at uphoon@hankyung.com
In-Soo Nam edited this article.