Lockheed Martin to form two new busi­ness ar­eas of elec­tronic sys­tems

SP's MAI - - CORPORATE -

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.

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