Late on Monday, the 16th of March 2020, the Bethesda, Maryland-based American multinational aerospace and defence company, Lockheed Martin, had issued a statement saying that the leading US defence contractor’s long-time veteran Chief Executive Marillyn Hewson, 66, would step down as CEO and join the company’s group of executive board members, while the former American Tower Corp.
CEO James Taiclet would be succeeding Hewson as Lockheed Martin’s new Chief Executive. As a matter of fact, Hewson, a former scholar of Harvard Business School where she had attended research programs on executive development, joined the US Defence Department’s largest military weapon contractor since 1983 and took the office as company President and Chief Executive on January 2013.
In tandem, Hewson had always been an investors’ favourite, since under her leadership the Pentagon’s main defence contractor’s market valuation grew by more than 200 per cent over the past six years, however, her leadership had also enjoyed an increase in US defence spending of Trump Administration.
Meanwhile, adding that she had been looking to pass more times with her family and the reasons behind stepping down as Lockheed Martin’s CEO was more personal rather than official, Hewson said in a LinkedIn post on Monday (March 16th), “The timing is right not only for our company, but for me personally. ” Hewson’s decision to step down as Lockheed Martin CEO would be effective from June 15th this year.