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.


 
 

 
Lockheed Martin photograph

Turning up the heat

Lockheed Martin photograph Lockheed Martin ATHENA laser weapon system defeats a truck target by disabling the engine, demonstrating its military effectiveness against enemy ground vehicles. Latest evolution of Lockheed Martin l...
 
 

Sikorsky S-97 RAIDERô team begins final assembly of second aircraft

Sikorsky Aircraft Corp., a subsidiary of United Technologies Corp., announced March 4 the start of final assembly of the second S-97 RAIDERô helicopter at the company’s Development Flight Center. Along with a team of industry suppliers, Sikorsky is developing two RAIDERô prototypes to demonstrate the revolutionary new capabilities in improved maneuverability and flight speed. The...
 
 

Sikorsky awarded $8 million contract for Phase 1 ALIAS program

Sikorsky Aircraft Corp. announced March 4 that the Defense Advanced Research Projects Agency has awarded the company an $8 million contract for Phase 1 of the Aircrew Labor In-Cockpit Automation System program. Sikorsky Aircraft is a subsidiary of United Technologies Corp. The objective of DARPA’s ALIAS program is to develop and insert new automation into...
 

 

Global Hawk sees decrease in cost per flight hour amidst increased operational tempo

The U.S. Air Force RQ-4 Global Hawk high-altitude, long-endurance autonomous unmanned aircraft system had another remarkable year in 2014, with a significant decrease in cost per flight hour coupled with a sharp increase in flight hours. The Global Hawk program has brought the system’s cost per flight hour down to the point of being half...
 
 
LM-AEHF

Ingenuity drives Lockheed’s AEHF program to production milestone early

Lockheed Martin has successfully integrated the propulsion core and payload module for the fourth Advanced Extremely High Frequency (AEHF) satellite nearly five months ahead of schedule. Reaching this critical milestone early a...
 
 

First all-electric propulsion satellites send first on-orbit signals

Two Boeing 702SP (small platform) satellites, the first all-electric propulsion satellites to launch, have sent initial signals from space, marking the first step toward ABS, based in Bermuda, and Eutelsat, based in Paris, being able to provide enhanced communication services to their customers. Whatís more, the satellites were launched as a conjoined stack on a...
 




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>