New president and CEO of Lockheed Martin begins duties

BETHESDA, Maryland — James Taiclet on Monday assumed his new duties as president and CEO of Lockheed Martin Corp. (NYSE: LMT).

Taiclet has served as chairman, president, and CEO of Boston, Massachusetts–based American Tower Corporation (NYSE: AMT) since 2004 and CEO since 2003. He is also a Gulf War veteran and pilot, Lockheed Martin said in a Monday news release.

It’s part of a planned leadership transition in which Taiclet succeeds Marillyn Hewson, who has served as chairman, president, and CEO since 2014 and president and CEO since 2013.

Lockheed Martin — a Bethesda, Maryland–based defense contractor — has two plants in Central New York, in Salina and in Owego. Both are part of the firm’s rotary and mission systems (RMS) business area.

Taiclet will continue to serve as a member of the corporation’s board, which he joined in 2018. Hewson will become executive chairman of the board and provide ongoing support for the leadership transition.

“This disciplined leadership transition reflects deliberate and thorough succession planning and is being implemented strategically at a time when Lockheed Martin is financially strong and positioned well for the future,” Hewson contended. “I have every confidence Jim and his executive leadership team will continue driving sustained success through sound business strategy, strong customer relationships and deep mission focus.”