In a planned leadership transition, experienced chief executive, Gulf War veteran and pilot James D. Taiclet, 60, today became president and CEO of Lockheed Martin Corporation. He succeeds Marillyn A. Hewson, 66, who has served as chairman, president and CEO since 2014 and president and CEO since 2013. Taiclet will continue to serve as a member of the corporation's board, which he joined in 2018. Hewson will become executive chairman of the board and provide ongoing support for the leadership transition.

"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," Taiclet said. "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."

"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."