- Lockheed Martin Corporation (NYSE: LMT) recently announced that James Taiclet is now the president and CEO of the company
Lockheed Martin Corporation (NYSE: LMT) recently announced that James Taiclet is now the president and CEO of the company. Taiclet is an experienced chief executive, Gulf War veteran, and pilot.
Taiclet is succeeding Marillyn A. Hewson — who has served as chairman, president, and CEO since 2014 and president and CEO since 2013. Going forward, Taiclet will continue to serve as a member of the corporation’s board. And Hewson will become executive chairman of the board and provide ongoing support for the leadership transition.
Taiclet’s tenure as CEO of American Tower Corporation began in 2003 and he became chairman, president, and CEO in 2004. And since then, American Tower grew significantly and increased its market capitalization from approximately $2 billion to more than $100 billion.
Before joining American Tower in 2001, Taiclet was president of Honeywell Aerospace Services (a unit of Honeywell International) and prior to that was vice president of Engine Services at Pratt & Whitney. Before that, he was also previously a consultant at McKinsey & Company, specializing in telecommunications and aerospace strategy and operations.
Taiclet started his career as a U.S. Air Force officer and pilot and served a tour of duty in the Gulf War. And he holds a master’s degree in public affairs from Princeton University where he was awarded a fellowship at the Woodrow Wilson School, and is a distinguished graduate of the United States Air Force Academy with degrees in engineering and international relations.
While working as president and CEO, Hewson led Lockheed Martin through a period of consistent financial performance and impressive growth during which the corporation’s market capitalization increased 280%. And during her 37 years at Lockheed Martin, Hewson has held increasingly responsible executive positions with the company, including president and COO and EVP of Lockheed Martin’s Electronic Systems business area.
Several other executive leadership appointments also went into effect this week. Frank St. John became chief operating officer. And in this newly created role, he is responsible for the strategic, operational, and financial performance of all the corporation’s lines of business.
St. John had joined Lockheed Martin over 30 years ago as an engineering intern and took on roles of increasing responsibility in engineering and program management before joining the corporation’s executive leadership team. And most recently, he served as executive vice president of Lockheed Martin’s Rotary and Mission Systems (RMS) business area and prior to that as executive vice president of Lockheed Martin’s Missiles and Fire Control (MFC) business area.
Stephanie C. Hill succeeded St. John as executive vice president of RMS. And most recently Hill served as senior vice president of Enterprise Business Transformation where she led the corporation’s Digital Transformation and Enterprise Information Technology teams. Before, she was deputy executive vice president of RMS and senior vice president for Corporate Strategy and Business Development. And she has held positions of increasing responsibility since joining Lockheed Martin in 1987 as a software engineer.
Yvonne Hodge succeeded Hill as senior vice president of Enterprise Business Transformation. Before that, Hodge was vice president of Business Innovation, Transformation, and Enterprise Excellence for the corporation’s Space business area. And during her nearly 18 years with Lockheed Martin, she has served in several leadership roles. Before joining Lockheed Martin, Hodge spent many years at AT&T in managerial and executive positions, including vice president of operations for business customers.
Key Quotes:
“As a former military pilot, I understand the mission of this great corporation to provide global security and innovative solutions for the brave men and women who protect our freedom. I come into this role at a time when our nation and its allies have been tested globally by new and emerging threats. Now more than ever, it’s critical we continue to deliver the best systems and equipment in the world. I’m honored to succeed Marillyn, who is rightfully one of the most respected CEOs in America, and to lead a workforce that is inventing and advancing the technology and security of our future.”
– James Taiclet
“This disciplined leadership transition reflects deliberate and thorough succession planning and is being implemented strategically at a time when Lockheed Martin is financially strong and positioned well for the future,” Hewson said. “I have every confidence Jim and his executive leadership team will continue driving sustained success through sound business strategy, strong customer relationships and deep mission focus.”
– Marillyn Hewson
