Lockheed Martin Corp. (NYSE: LMT) announced Monday a reorganization of its Electronic Systems business, including appointing a new head of the division, according to Associated Press.
Marillyn Hewson, 55, will leave her post as president of Systems Integration-Owego to become executive vice president of Electronic Systems, which makes the Aegis ballistic missile and the Pac-3 surface-to-air guided missile, effective Jan. 1.
Get Rich Penny Stocks is a leading financial publication that is pleased to alert investors of stocks on the move.
Sign Up for our Free Stock Newsletter
The new leadership changes follow Christopher Kubasik's promotion last month to president and chief operating officer of the corporation. Kubasik previously led the division, which had 2008 sales of $11.6 billion.
Additionally, the defense contractor said it will be realigning its Electronic Systems business areas to improve affordability and focus on new business efforts.
Effective Jan. 1, Lockheed's ground vehicle business will be realigned from Systems Integration-Owego to its Missiles and Fire Control business unit, while the balance of Owego's business will integrated with its Maritime Systems and Sensors unit.
Stevens said the realignment could displace some employees. The Owego division has already shed 1,000 jobs since the beginning of the year with the loss of two lucrative contracts, including the White House helicopter program.
Lockheed spokesman Jeffrey Adams declined provide further comment on the realignment.
The Bethesda, Md., company also announced three other personnel changes.
John Lucas, 49, will become senior vice president of Human Resources for the company, effective Feb. 1. He will be succeeding Kenneth Disken, who is retiring after 40 years of services.
William Graham, 59, will become deputy to Information Systems & Global Services Executive Vice President Linda Gooden, effective Jan. 1.
Orlando Carvalho, 51, has been named president of the Electronic Systems' Maritime Systems and Sensors business effective Jan. 1. He will be replacing Fred Moosally, who previously announced his retirement.
Shares of Lockheed added 70 cents to $76.77 in afternoon trading.
Sign up for the Free GetRichPennyStocks Newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
About Us
GetRichPennyStocks is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that could be on the brink of a breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer.
