Lockheed Martin Corporation Announces Management Changes, Effective March 1, 2012
February 28, 2012 at 04:15 pm EST
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Lockheed Martin Corporation announced that its Board of Directors has elected Erich Sanchack as corporate officer and vice president, Corporate Internal Audit, replacing Stephanie Hill. The Corporation also announced the appointment of Stephanie Hill as president, Information Systems & Global Solutions-Civil. The new positions are effective March 1, 2012. Sanchack, 42, a former captain in the United States Marine Corps, joined Lockheed Martin in 2004 as a systems engineering manager. Prior to his current position, he held program management positions with the Corporation's Engineering & Technology function and Information Systems & Global Solutions business. Hill, 47, joined Lockheed Martin as a software engineer in 1987 and has held numerous positions of increasing responsibility. Prior to joining Internal Audit in 2010, Hill was vice president and general manager, Electronic Systems Mission Systems & Sensors (MS2) Baltimore site, where she was responsible for leading the Integrated Defense Technologies business operations.
Lockheed Martin Corporation specializes in the design, manufacturing and marketing of aeronautic, submarine, and aerospace systems. Net sales break down by activity as follows:
- sale of aeronautic systems (40.7%): military and civilian aircraft, primarily for government organizations;
- sale of helicopters, mission and electronic systems (24%): military and commercial helicopters, ships, sea and land-based missile defense systems, radars, sensors, sea and air-based mission and combat systems, training systems, cyber solutions, command, control and communication systems, surveillance and reconnaissance systems, simulation and training systems, etc.;
- sales of aerospace systems (18.7%): satellite systems, missile systems and space transport systems;
- sale of air defense and fire control systems (16.6%): air and missile defense systems, tactical missiles, precision strike weapons systems, fire control systems, etc. The group also offers support services for mission operations, preparation, technical support, integration services, etc.
Net sales break down by source of income into sales of products (83.3%) and services (16.7%).
Net sales are distributed geographically as follows: the United States (74.3%), Europe (9.5%), Asia/Pacific (8.3%), Middle East (5.8%) and other (2.1%).
LOCKHEED MARTIN CORPORATION 
