She will be a part of the board's audit and management development and compensation committees, Lockheed said Friday.
"Debra brings a demonstrated track record of global business leadership and extensive experience in risk management and environmental and sustainability strategies," said Marillyn Hewson, chairman, president and CEO of Lockheed and a 2019 Wash100 winner.
Reed-Klages led Sempra as chief executive from June 2011 to December 2012 before she added the chairman title. She took on the president role in March 2017 and retired from the San Diego-based energy infrastructure company in December last year as executive chairman.
She began her career at Sempra's SoCalGas utility business in 1978.
Reed-Klages is also a board member at Chevron, State Farm Mutual and Caterpillar.