Marillyn Hewson Named Lockheed Board Chair; Bob Stevens to Retire From Company

Marillyn Hewson
Marillyn Hewson

Marillyn Hewson, who became president and CEO of Lockheed Martin (NYSE: LMT) in January, has been elected to succeed current Executive Chairman Bob Stevens as chairman of the board.

Stevens,  who led the company as CEO from 2004 to 2012, will step down from the board of directors Dec. 31 and retire from the company early next year, Lockheed said Monday.

“As CEO, Marillyn has taken decisive actions to maintain our industry leadership by building a strong leadership team, shaping the portfolio and aligning the operations around the realities of this challenging market and the opportunities of the future, ” Stevens said.

A 25-year company veteran, Stevens held the CFO and president roles before becoming chief executive.

He was elected chairman in April 2005 and became executive chairman in January 2013 after Hewson succeeded him as CEO.

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