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 Grumman passes key design review for B-2 weapons management upgrade

Northrop Grumman has successfully demonstrated to the U.S. Air Force that its plans to upgrade key weapons management software for the B-2 stealth bomber are on track and ready to proceed to the next level of development. The company successfully completed the critical design review of the service’s Flexible Strike Phase 1 program on Feb...
 
 

Boeing creates defense data analytics group

As part of a focus on increasing its global competitiveness, Boeing Defense, Space & Security is creating a new data analytics organization to provide customers with new and advanced offerings for leveraging information technologies across its products and services. Also, Chris Raymond, currently the vice president of Business Development & Strategy for Defense, Space &...
 
 
NG-people2

Northrop Grumman names VP, mission assurance for Electronic Systems sector

Northrop Grumman has appointed Sonal B. Deshpande vice president of mission assurance for the company’s Linthicum-based Electronic Systems sector. In this position, Deshpande is responsible for mission assurance across th...
 

 
sikorsky-raider

Sikorsky S-97 Raider helicopter achieves successful first flight

Sikorsky Aircraft Corp., a United Technologies Corp. subsidiary, announced May 22 the successful first flight of the S-97 Raiderâ„¢ helicopter, a rigid coaxial rotor prototype designed to demonstrate a game-changing combination...
 
 
NG-people

Northrop Grumman appoints VP, program manager ISR division

Northrop Grumman announced it has appointed Steve Lunny, vice president and program manager for the intelligence, surveillance and reconnaissance division within the company’s Information Systems sector. Lunny will report...
 
 

HELLADS laser completes development

General Atomics Aeronautical Systems, Inc. announced May 21 that the High-Energy Liquid Laser completed the U.S. government acceptance test procedure and is now being shipped to the White Sands Missile Range, N.M. At WSMR, the laser will undergo an extensive series of live fire tests against a number of military targets.  GAASI is a leading...
 




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=""> <strike> <strong>