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Lockheed Martin has officially farewelled president and CEO Marillyn Hewson, who was appointed to the roles in 2014 and 2013 respectively, officially welcoming Gulf War veteran and pilot James Taiclet to the positions.
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Lockheed Martin’s long-time global chief executive Marillyn Hewson has officially stepped down, with the board-elected James Taiclet taking up the mantle as her replacement, as the end of an era comes to pass.
Taiclet will continue to serve as a member of the corporation's board, which he joined in 2018. Hewson will become executive chairman of the board and provide ongoing support for the leadership transition.
"As a former military pilot, I understand the mission of this great corporation to provide global security and innovative solutions for the brave men and women who protect our freedom," Taiclet added.
"I come into this role at a time when our nation and its allies have been tested globally by new and emerging threats. Now more than ever, it's critical we continue to deliver the best systems and equipment in the world. I'm honoured to succeed Marillyn, who is rightfully one of the most respected CEOs in America, and to lead a workforce that is inventing and advancing the technology and security of our future."
Taiclet has served as chairman, president and CEO of American Tower Corporation since 2004 and CEO since 2003. During that time, American Tower grew significantly and increased its market capitalisation from approximately US$2 billion to approximately US$100 billion.
He also guided the company's transformation from a primarily US business to a global player in its industry, with significant assets and operations in 19 countries.
Taiclet will succeed Hewson, 66, who has served as chairman, president and CEO since 2014 and president and CEO since 2013. Hewson will become executive chairman of the board, also effective 15 June, subject to her re-election to the board by the stockholders at the upcoming annual meeting.
Hewson said, "This disciplined leadership transition reflects deliberate and thorough succession planning and is being implemented strategically at a time when Lockheed Martin is financially strong and positioned well for the future.
"I have every confidence Jim and his executive leadership team will continue driving sustained success through sound business strategy, strong customer relationships and deep mission focus," Hewson added.
Frank St. John, 53, the current executive vice president of Lockheed Martin's rotary and mission systems (RMS) business, was elected by the board to serve as chief operating officer. Stephanie Hill, 55, senior vice president, enterprise business transformation, was appointed to succeed St. John as executive vice president, RMS. Their appointments are also effective 15 June.
Reporting to the new CEO and president, the COO will be responsible for the strategic, operational and financial performance of all the corporation's lines of business. All four business area executive vice presidents – aeronautics, rotary and mission systems, space, and missiles and fire control – will report to the COO.
This includes the corporation's entire portfolio of products and capabilities totaling almost $60 billion in sales.
St. John joined Lockheed Martin more than 30 years ago and took on roles of increasing responsibility in engineering and program management before joining the corporation's executive leadership team. Most recently, he has served as executive vice president of RMS and prior to that as executive vice president of missiles and fire control.
Hill has served as senior vice president, enterprise business transformation, where she led the corporation's digital transformation and enterprise information technology teams.
Prior to that, Hill was deputy executive vice president of RMS and senior vice president for corporate strategy and business development. She held positions of increasing responsibility since joining Lockheed Martin in 1987 as a software engineer.
Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 110,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
