Lockheed Martin announces new Chairman of the Board

Lockheed Martin Corporation's board of directors announced this week that it elected Marillyn A. Hewson, current President and Chief Executive Officer of the organization, as the new Chairman of the Board, effective January 1, 2014.

"Marillyn is an exceptional leader who during the last year has demonstrated that she has a clear vision for the future and a demonstrated ability to deliver outstanding results," Lockheed Martin Independent Lead Director Douglas McCorkindale said. "In her new role as Chairman, she will bring her leadership skills to the governance of the company and I look forward to working with her in my role as independent lead director."

Robert J. Stevens is the current Executive Chairman of the Board. He will resign from his position as Executive Chairman and a member of the Board on December 31. His official resignation from the company will take place in the beginning of next year.

"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.

Lockheed Martin is a global leader in security and aerospace defense technology. It employs approximately 116,000 people worldwide and is a top researchers, designer, manufacturer and innovator for advanced technology systems.