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| 8-K - LOCKHEED MARTIN CORP | v163069_8k.htm |
| EX-99.1 - LOCKHEED MARTIN CORP | v163069_ex99-1.htm |
Christopher E. Kubasik Elected By Board
Of Directors As Lockheed Martin's President And Chief Operating
Officer
Bethesda,
MD, October 15th, 2009 -- Lockheed Martin Corporation [NYSE: LMT] today
announced that its Board of Directors has elected Christopher E. Kubasik to
serve as president and chief operating officer, effective Jan. 1,
2010.
“Re-establishing
the position of president and COO, and electing Chris Kubasik to that role, will
strengthen oversight of program performance across the Corporation and take
operational excellence to an even higher level as we support our customers in
their global security missions," said Chairman, President and CEO Bob Stevens.
"Chris is a talented and respected leader. He has performed with excellence in a
variety of jobs with a wide array of responsibilities. I'm confident that –
working with our business area leaders and their teams – he will ensure the
flawless performance our customers expect."
In
the new organizational alignment, Lockheed Martin’s four business area executive
vice presidents, the senior vice president of Operations and Program Management
and the CIO and vice president of Enterprise Business Services will report to
Kubasik. "This new structure puts our businesses, their more than 3,000
programs, and the institutional mechanisms for improvement under Chris's
operational oversight," Stevens said. "It's a structure that will strengthen our
company, reinforce our ability to support our customers’ most difficult global
security challenges, and prepare us to achieve a bright
future.”
Stevens
will continue as chairman and CEO and retain oversight of the remaining
corporate staff functions. “In addition to extending our commitment to program
performance and operational excellence," he said, "this new structure will
enable me to devote greater attention to high-level customers and partners and
to shape domestic and international business strategies. I also intend to
increase my efforts to strengthen the corporation strategically, operationally
and financially."
Kubasik’s
successor as executive vice president of Electronic Systems will be named soon.
"We have a number of strong internal candidates," said Stevens. "There will be
no gap in leadership."
Currently,
Kubasik serves as executive vice president of Lockheed Martin's Electronic
Systems business area, with 2008 sales of $11.6 billion, a portfolio of more
than 1,400 programs and customers in 43 nations. Prior to his appointment to
that position in 2007, he was the corporation’s executive vice president and
chief financial officer, responsible for financial strategies, processes and
operations.
Kubasik
received an Executive Engineering Certificate from Carnegie Mellon University in
2008 and has attended an Executive Program at Northwestern University's Kellogg
School of Business. He also completed the Systems Acquisition Management Course
for Flag Officers at the Defense Acquisition University, Fort Belvoir, Va. He
received his bachelor’s degree (magna cum laude) from the University of Maryland
in 1983.
Headquartered
in Bethesda, Md., Lockheed Martin is a global security company that employs
about 140,000 people worldwide and is principally engaged in the research,
design, development, manufacture, integration and sustainment of advanced
technology systems, products and services. The corporation reported 2008 sales
of $42.7 billion.
Media
Contact: Nettie Johnson, Vice President, Worldwide Media Relations,
301-897-6352; cell, 407-719-5982; e-mail, nettie.r.johnson@lmco.com
For
additional information, visit our Web site: http://www.lockheedmartin.com