Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.

Raytheon CEO: 'Some programs will not survive'

The chief executive of Raytheon Technologies said he does not expect the defense budget to grow or decline, but there will be some shifted investments.

Biden meets with CEOs to push $50B semiconductor plan

President Biden met with the chief executives of 19 U.S. firms to tout his plan to invest $50 billion in semiconductor manufacturing and research as part of a sweeping infrastructure proposal.

Northrop to attend semiconductor summit

The White House on Monday held a virtual CEO Summit on semiconductor and supply chain resilience, according to a pool report.

Pentagon releases guides for marking controlled unclassified information ahead of CMMC program launch

The Defense Department has issued two new resources for contracting officials regarding the identification of controlled unclassified information and how it should be identified on government documents.

Raytheon names Mitchill CFO

Raytheon Technologies said it has named Neil Mitchill chief financial officer, succeeding Toby O’Brien who "has stepped down from his role as CFO."

CACI names Kurowski CTO

CACI International said it has promoted Glenn Kurowski to chief technology officer.

The week ahead

Senior defense officials are scheduled to speak during several events this week, including testifying on Capitol Hill.

Biden's defense budget seeks to cut legacy programs, eliminates warfighting account

President Biden is proposing a $715 billion Pentagon budget for fiscal year 2022, with plans to cut unspecified legacy weapon systems and eliminate a controversial warfighting account intended for overseas military operations, according to the White House Office of Management and Budget.

Pentagon looks to influence 5G standards on cybersecurity

Defense Department officials are seeking to influence standards and specifications for fifth-generation wireless networks in key areas like cybersecurity.