Business

October 9, 2012

Lockheed Martin to form two new business areas through reorganization of Electronic Systems

With a continuing focus on lean and efficient operations, Lockheed Martin Corporation Oct. 8 announced it will reorganize its Electronic Systems business area into two new business areas that position the company for growth by increasing customer alignment and reducing costs.

Effective Dec. 31, the creation of the Missiles and Fire Control and Mission Systems and Training business areas brings the company’s total to five including Aeronautics, Space Systems, and Information Systems & Global Solutions. As previously announced, Marillyn Hewson, who currently leads the Electronic Systems business area, will assume the role of president and chief operating officer on Jan. 1.

“Our customers are looking for affordable solutions to their toughest challenges whether intercepting enemy missiles, conducting naval operations in littoral waters, or securing information networks from attack,” said Chris Kubasik, Lockheed Martin vice chairman, president and chief operating officer. “This new structure will allow us to better support our customers around the world and positions our company for sustained long-term growth.”

The reorganization will streamline operations and save approximately $50 million a year by eliminating the executive management teams of the Electronic Systems business area and the Global Training and Logistics business unit. The GTL portfolio will be split between the two resulting business areas. Approximately 200 jobs will be affected.

“For the past three years, Chris has led an effort to examine all aspects of our business in an environment where every dollar counts,” said Bob Stevens, Lockheed Martin chairman and CEO. “This focus on maximizing value for customers and shareholders has already identified billions in savings for our customers and made us more competitive.”

The new structure includes the following organizational changes:

  • The MFC business area will have 16,000 employees and be headquartered in Dallas. Some of its high-profile programs will include the Terminal High Altitude Area Defense System, Joint Light Tactical Vehicle, PAC-3 Missiles, as well as logistics and other technical services from GTL.
  • The MST business area will have 19,000 employees and be headquartered in Washington, DC. Some of its high-profile programs will include the Aegis Combat System, Littoral Combat Ship, MH-60 helicopter avionics, as well as military and commercial training systems from GTL including F-35 support.

To lead these new business areas, Rick Edwards and Dale Bennett have been elected executive vice presidents, effective December 31, of MFC and MST, respectively. Both executives have been with Lockheed Martin for about three decades and served in roles of increasing responsibility.

Edwards, 56, began managing MFC’s program and technology execution in June after leading its Tactical Missiles and Combat Maneuver Systems line of business for seven years. He received a bachelor’s degree in business administration from Gettysburg College in 1978. He will succeed Jim Berry, the current president of the MFC business who plans to retire.

Bennett, 55, is the president of the Mission Systems & Sensors business, a role he assumed in August 2011 after serving as president of GTL for six years. He received a bachelor’s degree in mechanical engineering from the University of South Carolina-Columbia in 1981, a master’s degree in engineering from the Johns Hopkins University, and a master’s in business administration from the Sloan Fellows Program at Massachusetts Institute of Technology. He also served in the Air Force.

 




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


 
 

 

Orbital stockholders approve merger with ATK’s aerospace, defense groups

Orbital Sciences Corporation announced Jan. 27 that at a special meeting, the company’s stockholders voted overwhelmingly to approve the proposed merger with the Aerospace and Defense Groups of Alliant Techsystems Inc., pursuant to the definitive transaction agreement dated April 28, 2014. Approximately 99 percent of the votes cast at the special meeting voted in favor...
 
 

Northrop Grumman, MDA successfully complete command cyber readiness inspection

Northrop Grumman provided invaluable assistance for the U.S. Missile Defense Agency’s Excellent rating from the Command Cyber Readiness Inspection conducted on the Missile Defense Integration and Operations Center networks at Schriever Air Force Base, Colo. The CCRI evaluates a site’s compliance with information assurance and network defense policies and configuration standards for ...
 
 

Raytheon acquires Tucson-based Sensintel, Inc.

Raytheon has acquired privately-held Sensintel, Inc., a leading provider of unmanned aircraft systems solutions to the intelligence and special operations markets. Located in Tucson, Ariz., with approximately 50 employees, Sensintel will become part of Raytheon Company’s Missile Systems business. The transaction is not expected to materially impact Raytheon’s sales or earnings in th...
 

 
Boeing photograph

Boeing Maritime Surveillance Aircraft ready for demonstration flights

Boeing photograph The Boeing Maritime Surveillance Aircraft program is ready for customer demonstration flights, having completed the baseline ground and flight testing of the aircraft mission systems. The Boeing Maritime Surve...
 
 

Pratt & Whitney concludes PurePowerÆ geared turbofan engine partnering

Pratt & Whitney and Kawasaki Heavy Industries Ltd. met recently to commemorate the signing of a risk and revenue-sharing collaboration agreement for KHI to provide key hardware modules for Pratt & Whitney’s PurePower Geared Turbofan engines. Pratt & Whitney is a division of United Technologies Corp. Pratt & Whitney currently has 10 worldwide GTF collaboration...
 
 

U.S. Navy approves F/A-18 Super Hornet IRST system for production

The F/A-18 Super Hornet infrared search and track system, developed and integrated by Boeing and Lockheed Martin, received approval from the U.S. Navy to enter low-rate initial production. The IRST system consists of Lockheed Martin’s IRST21 sensor, the GE Aviation FPU-13 Fuel Tank Assembly and the Meggitt Defense Industry Environmental Control unit. The system demonstrated...
 




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>