Hanwha Aerospace (KRX:012450) named Michael Coulter as its global defense chief executive officer, the aerospace company said in a Monday release.

Coulter will lead Hanwha Aerospace's global defense businesses, including subsidiaries such as Hanwha Ocean (KRX:042660) and Hanwha Systems (KRX:272210).

In his most recent role, Coulter was the senior vice president of corporate business development for Leonardo DRS and president of Leonardo DRS International, the release said.

Shares of Hanwha Aerospace declined nearly 5% at market close on Tuesday while those of Hanwha Ocean and Hanwha Systems fell 4%.