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 29, 2015

News: U.S. Army chief opens door to embedding U.S. troops with Iraqi forcesĀ - After the fall of Ramadi, the Iraqi Security Forces need military and political leadership, Gen. Raymond Odierno says.   Business: No acquisition strategy yet for LCS frigatesĀ - Details of the new Littoral Combat Ship frigate program’s acquisition strategy are still being reviewed,...
 
 

News Briefs May 29, 2015

Finnish navy: Underwater intruder possible foreign submarine Finnish military officials say that an underwater object the navy chased last month in territorial waters and dropped several depth charges could have been a foreign submarine. A navy investigation released May 28 says that technical analysis did not provide sufficient proof of the presence of a submarine...
 
 
Lockheed Martin photograph by Chad Bellay

F-16 test pilots hit the ‘road’ to help train USAFE pilots

Air Force photograph by Airman 1st Class Kyla Gifford Three F-16s assigned to Spangdahlem Air Base, Germany, on a refueling mission last year. Two F-16 test pilots from the 416th Flight Test Squadron recently returned from a &#...
 

 
Navy photograph

Its reign in the fleet over, naval Sea King helicopter now rests at Pax Museum

Navy photograph At more than 54 feet in length with a 62-foot rotor diameter, the mighty SH-3A Sea King helicopter sits in its final spot at the Patuxent River Naval Air Museum. Designed as an anti-submarine warfare helicopter,...
 
 
boeing-korea

New Boeing Avionics Facility to enhance ROKAF readiness, affordability

Boeing formally opened a new avionics maintenance and repair center in the Yeongcheon Industry District of Daegu-Gyeongbuk Free Economic Zone May 28. The 10,000 square-foot facility will test and repair aircraft electrical syst...
 
 
Navy photograph by John F. Williams

ONR testing high-speed planing hulls

Navy photograph by John F. Williams A ship hull model attached to a high-speed sled moves through waves at the David Taylor Model Basin at Naval Surface Warfare Center, Carderock, during Office of Naval Research -sponsored rese...
 




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>