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 March 27, 2015

News General Dynamics withdraws as T-100 prime contractor General Dynamics Information Systems and Technology has withdrawn itself as the prime contractor on the T-100, the offering for the T-X trainer replacement program based on the Alenia Aermacchi M-346 design.   Business SpaceX’s fight with U.S. Air Force called a clash of perceptions Billionaire Elon Musk’s...
 
 

News Briefs March 27, 2015

Contractor extradited from Iraq pleads guilty in bribes case A man extradited from Iraq in a military contract bribery case has pleaded guilty to three charges in an agreement with federal prosecutors. U.S. District Judge Thomas Rose has scheduled sentencing for July 1 for Metin Atilan. His attorney, Nick Gounaris, says the two sides agreed...
 
 

Ninth Boeing GPS IIF reaches orbit, sends first signals

Boeing Global Positioning System (GPS) IIF satellites are steadily replenishing the orbiting constellation, continuing to improve reliability and accuracy for users around the world. The ninth GPS IIF reached orbit about three hours, 20 minutes after launching today aboard a United Launch Alliance (ULA) Delta IV rocket from Cape Canaveral Air Force Station, Fla., and...
 

 

F-35 Lightning II costs drop, report shows

A recent account of F-35 Lightning II aircraft program costs shows decreases, the Air Force’s F-35 program executive officer told reporters in a media roundtable March 24, 2015. Lt. Gen. Christopher C. Bogdan, citing this year’s selected acquisition report on the aircraft, called the roundtable to clarify cost and performance facts. He also acknowledged the...
 
 
NG-growler2

Northrop Grumman delivers center/aft ‘shipset’ for first international EA-18G Growler

Northrop Grumman photograph Northrop Grumman mechanics perform final quality inspections on the center/aft fuselage shipset produced by the company for the first Australian EA-18G Growler. The subassembly will be delivered to B...
 
 
Navy photograph by Monica McCoy

Navy conducts production acceptance test of Tomahawk missile

Navy photograph by Monica McCoy Members of the Explosive Ordnance Disposal Technology Division team at Naval Surface Warfare Center, Indian Head prepare a Tomahawk missile for a functional ground test at the Large Motor Test Fa...
 




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>