Business

June 21, 2012

Lockheed Martin commemorates centennial, addresses future, sequestration

Lockheed Martin Chairman and CEO Bob Stevens.

Lockheed Martin’s Chairman and Chief Executive Officer Bob Stevens, President and Chief Operating Officer Chris Kubasik and other senior leaders commemorated the corporation’s 100-year history during its annual media briefing June 19, while simultaneously warning of the impacts that sequestration will have on the industry.

The meeting, held at the company’s Global Vision Center in Arlington, Va., was attended by seventy industry and business reporters.

“Experience through our first 100 years has informed us in many ways and shaped who we are, our ideals, and our culture,” said Stevens. “The ability to drive the cutting edge of advanced technology has always been a central focus for us. But we are reminded daily of the great privilege that we have of supporting those who serve our nation.”

Looking at the next 100 years, Stevens said, “We have a highly integrated strategy, we’ve made smart investments, we’ve ensured that we have financial capacity and flexibility, and we have extraordinary talent and dedicated leadership at all levels of our company. We are very much ready for future challenges.”

Lockheed Martin President, COO and CEO-elect Chris Kubasik.

Stevens described sequestration as “the single greatest challenge faced by our company and industry, for which we have no good response. With only 196 days remaining we have no insight as to how sequestration, this law, will be implemented. From an industry perspective, the near-term horizon is completely obscured by a fog of uncertainty.”

Kubasik, who will become CEO on Jan.1, shared his vision of where the company is going and its priorities for research and development investments. “I think we have done an excellent job over the last several years trying to optimize our R&D spend,” he said. For example, “we look at nanotechnology with a focus on material strength and weight. That is something that each and every business area can benefit from. If we are not making progress, if it doesn’t align with the customers’ area of focus, we stop the project and move on to something else.”




All of this week's top headlines to your email every Friday.


 
 

 

Northrop, Navy celebrate legacy of EA-6B Prowler

Northrop Grumman photograph by Edgar Mills The U.S. Navy’s last operational EA-6B Prowler, designed and built by Northrop Grumman, lifts off from Naval Air Station Whidbey Island, Wash. in a ceremonial fly-away June 27 from its long time operational base. The Navy is retiring the Prowler after nearly 45 years of service.   The U.S....
 
 

Lockheed signs agreements for two full-flight simulators

Lockheed Martin Commercial Flight Training and Airbus have signed a frame contract enabling Airbus to expedite procurement of flight simulation devices for their customers, Airbus training centers and their affiliates worldwide. The frame contract emphasizes the shared intent to partner on future training programs, and combines Airbus’ and Lockheed Martin Commercial Flight Training’s expert...
 
 

Drone Aviation receives order for U.S. Army aerostat system enhancement

Drone Aviation Holding Corp., a developer of specialized lighter-than-air aerostats and tethered drones, announced June 24 that its wholly owned subsidiary, Drone Aviation Corp., has been awarded an order from U.S. Government prime contractor BAE Systems for parts and services related to enhancing and supporting two WASP aerostat systems owned and operated by the U.S....
 

 

Boeing names Muilenburg as chief executive officer

The Boeing board of directors has elected Dennis A. Muilenburg the company’s 10th chief executive, succeeding W. James (Jim) McNerney, Jr., who held the position for the past 10 years. Muilenburg, who has served as Boeing president and chief operating officer since 2013, becomes president and CEO July 1. McNerney, who joined Boeing’s board of...
 
 
boeing-thailand

Boeing, Thai Airways International celebrate 25th direct 777 delivery

  Boeing and Thai Airways International Public Company Limited celebrated the Thailand flag carrier’s 25th direct 777 delivery, a 777-300ER (Extended Range), from the Boeing delivery center in Everett, Wash.  “...
 
 

General Dynamics receives $219 million for U.S. Army’s WIN-T increment 2 systems

General Dynamics received the first full rate production order from the U.S. Army to build additional Warfighter Information Network – Tactical (WIN-T) Increment 2 systems.  The $219 million order includes the production of more than 300 vehicle-based network communication nodes along with related equipment and materials. WIN-T Increment 2 is the Army’s communications backbone providin...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>