Lockheed Martin Corp. Chairman Marillyn Hewson announced Monday she would be transitioning to executive chairman of the board in June, with Jim Taiclet, an experienced chief executive of American Tower Corp., taking her job.
Hewson, who earned both her bachelor’s degree in business administration and a master’s in economics from the University of Alabama, has served as president and CEO since 2013. She was named 2018 Chief Executive of the Year by Chief Executive magazine and Fortune’s Most Powerful Woman in 2018 and 2019, as well as named on Forbes’ list of the World’s 100 Most Powerful Women in 2018 and 2019.
Writing on her LinkedIn page, Hewson noted Lockheed Martin is not just any corporation, but a national asset.
“We play an important role supporting our military forces keeping Americans — and allies around the world — safe and free. And we advance discovery and knowledge for the world. Love of company and love of country have always been intertwined during my career.
“So, it’s important as I leave the CEO role that this national asset is in top shape — financially strong, with a record $144 billion in orders, and a vibrant workforce,” Hewson wrote.
The selection of Jim Taiclet was in part based on her recommendation. Hewson will become executive chairman of the board, effective June 15, subject to her re-election to the board by the stockholders at the upcoming annual meeting.
“The timing is right not only for our company, but for me personally. I have worked full time since I was 16. So, when the transition is complete, I am looking forward to this new chapter of life with my husband, James, and our sons, who have been such supportive partners on my career journey,” she wrote.
Taiclet, 59, 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 Corp. 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.
He guided the company’s transformation from a primarily U.S. business to a global player in its industry, with significant assets and operations in 19 countries.
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 Corp. He also previously served as a consultant at McKinsey & Co., specializing in telecommunications and aerospace strategy and operations.
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.
Lockheed, with $40.5 billion in U.S. federal contracts, is the country’s biggest defense contractor and has several facilities in Alabama aimed at producing missiles, helicopters and other products.
