Business

November 14, 2012

Lockheed Martin board elects Marillyn Hewson CEO, president, board member

Lockheed Martin announced Nov. 9 that its board of directors asked for and received the resignation of Christopher E. Kubasik, 51, from his role as vice chairman, president and chief operating officer, effective immediately.

The board also elected Marillyn A. Hewson, 58, president and COO, and a director effective immediately, and chief executive officer and president effective Jan. 1, 2013. Hewson will also retain her role as executive vice president of Electronic Systems business area until the end of this year.

Kubasik, previously slated to become CEO in January, resigned after an ethics investigation confirmed that he had a close personal relationship with a subordinate employee. His actions violated the company’s Code of Ethics and Business Conduct, but did not affect the company’s operational or financial performance.

“While I am deeply disappointed and saddened by Chris’ actions, which have been inconsistent with our values and standards, our swift response to his improper conduct demonstrates our unyielding commitment to holding every employee accountable for their actions,” said Robert J. Stevens, chairman and CEO. “Fortunately, we have a strong leadership team and a robust succession plan that allowed the board and me to react quickly and appropriately to this situation. Marillyn is an exceptional leader with impeccable credentials and deep knowledge of our business, customers, shareholders and employees.”

The board also elected Stevens executive chairman effective Jan. 1. In that role he will work with Hewson to facilitate a smooth CEO transition.

“As board executive chairman,” Stevens continued, “I will remain very active and involved in our company’s work, playing any role that would be of value, and I will do this throughout 2013.”

Douglas H. McCorkindale, Lockheed Martin’s independent lead director said, “Upholding the highest ethical standards is embedded in the fabric of the Lockheed Martin character and is the foundation of the decisive action we took in the face of a very challenging situation. Marillyn is a strong leader with a record of delivering impressive results. She has the full support of the board as she assumes her responsibilities as our next CEO.”

Hewson joined Lockheed Martin in 1983, has served as executive vice president of the Electronic Systems business area since January 2010, and was named president and COO-elect by the board in April 2012. She earned her bachelor’s degree in business administration and a master’s degree in economics from The University of Alabama. She also attended the Columbia Business School and Harvard Business School executive development programs. She chairs the Sandia Corporation board of directors and she serves on the board of DuPont. Hewson is a member of the Association of the United States Army Council of Trustees and the University of Alabama’s Culverhouse College of Commerce and Business Administration Board of Visitors.

 




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


 
 

 

Headlines May 27, 2015

News: U.S. Air Force certifies SpaceX for military launches - SpaceX has been certified for military space launch, the U.S. Air Force announced May 26. The long-awaited announcement is a game changer, with SpaceX becoming only the second provider cleared by the service to launch national security payloads into orbit.   Business: Northrop Grumman CEO issues...
 
 

New’s Briefs May 27, 2015

U.S. military begins search flights for stranded Rohingya The United States has begun military surveillance flights to help locate stranded Rohingya and Bangladeshi boat people in Southeast Asian seas. State Department spokesman Jeff Rathke said May 26 that U.S. Navy P8 aircraft flew over the weekend with Malaysian support. Rathke said the U.S. has offered...
 
 
nasa-commercial-crew

Commercial Crew milestones met; partners on track for 2017 missions

NASA has taken another step toward returning America’s ability to launch crew missions to the International Space Station from the United States in 2017. The Commercial Crew Program ordered its first crew rotation mission fro...
 

 
af-spacex

Air Force certifies SpaceX for national security space missions

Lt. Gen. Samuel Greaves, commander of the Air Force Space and Missile Systems Center and Air Force program executive officer for space, has announced the certification of Space Exploration Technologies Corporation’s Falco...
 
 

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-space

Boeing awarded first-ever commercial human spaceflight mission

NASA issued a task order as part of Boeing’s $4.2 billion Commercial Crew Transportation Capability contract recently to include the company’s first-ever service flight to the International Space Station. The award ...
 




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>