Lockheed Martin’s board of directors has elected James D. Taiclet to succeed Marillyn A. Hewson as president and CEO.
The election will become effective June 15. Hewson will become executive chairman of the board, also effective June 15, subject to her re-election to the board by the stockholders at the upcoming annual meeting.
Taiclet will continue to serve as a member of the corporation’s board, which he joined in 2018. He has served as chairman, president and CEO of American Tower Corporation since 2004 and CEO since 2003. During that time, American Tower grew significantly and increased its market capitalization from approximately $2 billion to approximately $100 billion.
“I know it is the right time to transition the leadership of Lockheed Martin. The corporation is strong, as evidenced by our outstanding financial results last year and a record backlog of business,” said Hewson. “I’m pleased the board agreed with my recommendation. As Lockheed Martin’s next CEO, Jim will lead the company forward in its next phase of growth and value creation.”
Prior to joining American Tower in 2001, Taiclet was president of Honeywell Aerospace Services, a unit of Honeywell International, and prior to that was vice president, engine services at Pratt & Whitney, a unit of United Technologies Corporation.
Taiclet began his career as a United States Air Force officer and pilot and served a tour of duty in the Gulf War. He holds a master’s degree in public affairs from Princeton University, where he was awarded a fellowship at the Woodrow Wilson School and is a distinguished graduate of the United States Air Force Academy with degrees in engineering and international relations.
“I’m honored to be asked to succeed one of the most respected CEOs in America,” said Taiclet. “As a military veteran, I understand the mission of this great company to provide global security and innovative solutions for the brave men and women who protect our freedom.”
