Lockheed Martin to form two new business areas of electronic systems
With a continuing focus on lean and efficient operations, Lockheed Martin Corporation today announced it will reorganise its Electronic Systems business area into two new business areas that position the company for growth by increasing customer alignment and reducing costs.
Effective December 31, the creation of the Missiles and Fire Control (MFC) and Mission Systems and Training (MST) business areas brings the company’s total to five including aeronautics, space systems, and information systems & global solutions. As previously announced, Marillyn Hewson, who currently leads the Electronic Systems business area, will assume the role of president and chief operating officer on January 1.
“Our customers are looking for affordable solutions to their toughest challenges whether intercepting enemy missiles, conducting naval operations in littoral waters, or securing information networks from attack,” said Chris Kubasik, Lockheed Martin Vice Chairman, President and Chief Operating Officer. “This new structure will allow us to better support our customers around the world and positions our company for sustained longterm growth.”
The reorganisation will streamline operations and save approximately $50 million a year by eliminating the executive management teams of the Electronic Systems business area and the Global Training and Logistics (GTL) business unit. The GTL portfolio will be split between the two resulting business areas. Approximately 200 jobs will be affected.
To lead these new business areas, Rick Edwards and Dale Bennett have been elected executive vice presidents, effective December 31, of MFC and MST, respectively. Both executives have been with Lockheed Martin for about three decades and served in roles of increasing responsibility.