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Lockheed Martin CEO to step down

By Rhiannon Edwards

Marillyn Hewson has been with Lockheed Martin since 1983 and as CEO presided over a three-fold gain in stock prices

Marillyn Hewson

Marillyn Hewson, veteran of US defence contractor Lockheed Martin, is set to step down as CEO from June 15, 2020, the company has announced.

Hewson, who has been with Lockheed Martin since 1983, has presided over a three-fold gain in stock prices for the defence contractor since she became CEO in January 2013.

Lockheed Martin is the Pentagon’s largest defence contractor and produces F-35 fighter jets, having recently delivered its 500th F-35.

The US Space Force’s Space and Missile Systems Center recently gave Lockheed Martin a $240m (£194m, €214m) contract to develop a prototype for its new Protected Tactical SATCOM system, a satellite communication system for military use.

Board member James Taiclet will be the replacement for Hewson.

Taiclet has been the chairman, president and CEO of American Tower Corp, a REIT that invests and operates telecom assets, since 2004.

He previously worked in senior roles with Honeywell Aerospace Services, a unit of Honeywell International and United Technologies Corp.

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