Lockheed Martin (NYSE: LMT) has elected Marillyn Hewson, currently executive vice president for electronic systems, to succeed the retiring Bob Stevens as chief executive, effective Jan. 1, 2013.
In a release, the company said it also named her president, chief operating officer and director, effective immediately, upon the resignation of Chris Kubasik from the company.
She will remain as EVP for electronic systems until the end of this year, when that business area will divide into two new areas.
The company also elected Stevens executive chairman of the board, effective Jan. 1.
“As board executive chairman, 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, ” Stevens said in the release.
Hewson joined the company in 1983 and has served as electronic systems EVP since January 2010.
She also serves as chairman of Lockheed’s Sandia Corp. subsidiary, which operates the Sandia National Laboratories for the National Nuclear Security Administration.