Lockheed Martin Corporation Restructures Corporate Functions; Announces Executive Changes
January 08, 2013
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Lockheed Martin Corporation is consolidating several corporate operations in an effort to cut costs, increase coordination and drive efficiencies, in its first week under new CEO Marillyn Hewson. The enterprise business services and corporate internal audit functions will become part of finance and business operations. Bruce Tanner, chief financial officer, will lead the effort, with chief information officer, Sondra Barbour, and vice president of internal audit, Erich Sanchack, reporting to him. Operations and program management will be integrated into corporate engineering and technology under Ray Johnson, chief technology officer. Mike Joyce, who will be senior vice president of supply chain, will report to Johnson. This move will result in the elimination of about 50 jobs.
The company announced that Jennifer Whitlow will become vice president of corporate communications, replacing Ron Rand, who will become special assistant to Executive Chairman Bob Stevens. Bob Trono will continue his role as vice president and chief security officer, reporting to Lucas. Corporate development will become part of corporate strategy and business development. Senior Vice President Pat Dewar will lead the team, and he will later detail the new corporate strategic development organization.
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 
