Frank C. Lanza, 74; Headed Defense Firm L-3 Communications
Frank C. Lanza, 74, chairman, chief executive and co-founder of defense contractor L-3 Communications Holdings Inc., died unexpectedly Tuesday night while recovering from surgery he had two months ago, the company said.
He had visited doctors Tuesday and was told his progress after esophageal surgery related to acid reflux disease was satisfactory.
Lanza formed New York-based L-3, a maker of electronics and communications gear for the defense industry, in 1997 after spending a year at Lockheed Martin Corp. and more than a decade at Loral Corp. Starting with 10 discarded units from Lockheed, Lanza engineered more than 80 acquisitions that built L-3’s market value to almost $9 billion and cemented his reputation as a dealmaker.
The board of L-3 -- named for Lanza, Robert LaPenta, his former chief financial officer, and Lehman Brothers Holdings Inc., which provided start-up financing -- met Wednesday to discuss succession plans, spokesman Evan Goetz said.
Born in San Francisco on Nov. 6, 1931, Lanza began his career as an engineer with Philco Western Development Laboratory. He served in the U.S. Coast Guard during the Korean War.
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