- Push-out Score determined
- After about six and a half years in the position
- Praise and thanks for Hewson
- Jim Taiclet taking over
- Hewson will remain as executive chairman at Lockheed Martin
- Hewson said 78 words
(exechange) — Bethesda, Maryland, March 16, 2020 — Marillyn Hewson, chief executive of Lockheed Martin, leaves her position. As announced by Lockheed Martin Corp. in a news release and in a regulatory filing published on Monday, March 16, 2020, Marillyn A. Hewson leaves her post as chief executive officer at America’s biggest defense contractor after about six and a half years in the role, effective June 15, 2020.
Marillyn Hewson’s duties as CEO will be taken over by James D. (Jim) Taiclet, currently Chief Executive Officer of American Tower Corporation.
Already a director
Taiclet is already a director of Lockheed Martin. Directors-turned-executives represent a blend of outsider and insider.
Having been a director, Taiclet understands the expectations and dynamics of the board and has knowledge of Lockheed Martin’s organization, risk-management practices and strategy.
Marillyn Hewson’s move forms part of a management shake-up also involving the position of Chief Operating Officer.
“It is the right time”
The management change is explained as follows. Hewson said: “I know it is the right time to transition the leadership of Lockheed Martin. The corporation is strong, as evidenced by our outstanding financial results last year and a record backlog of business.”
Hewson will remain as executive chairman at Lockheed Martin
“Hewson will become executive chairman of the board, also effective June 15, subject to her re-election to the board by the stockholders at the upcoming annual meeting,” Lockheed Martin said.
Lockheed Martin said: “Taiclet will succeed Marillyn A. Hewson, 66, who has served as chairman, president and CEO since 2014 and president and CEO since 2013.”
Share price increase since January 2014
The announcement follows an increase in Lockheed Martin Corp.’s share price of 101% since January 2014.
In the position of CEO since 2014
Marillyn Hewson became CEO of the Company in 2014.
Marillyn Hewson has served as the Chairman, President and Chief Executive Officer of Lockheed Martin since January 2014.
Having served 37 years at Lockheed Martin in roles of increasing responsibility, Hewson held the positions of Chief Executive Officer and President from January 2013 to December 2013; and President and Chief Operating Officer from November 2012 to December 2012.
Hewson formerly served as a director of DowDuPont Inc. from 2007 to March 2019.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Lockheed Martin and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 12.2020 ($).