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Stevens to Become Lockheed Martin Chairman Upon Coffman Retirement from Board |
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BETHESDA, Md., Nov. 26/Satnews Daily/ — Lockheed Martin Corp. [NYSE: LMT] has announced that Vance D. Coffman will retire from its board of directors effective April 2005. Replacing Coffman is Robert J. Stevens who is expected to be elected by the board of directors as chairman on April 2005 .
Coffman has served as chairman since 1998 and retired as Lockheed Martin’s CEO in August of this year when he announced that he would remain as the board’s non-employee chairman until April 2005. Coffman began his career with Lockheed Martin 37 years ago as an aerospace engineer and subsequently served in a series of key corporate leadership positions.
Stevens became president and CEO in August. Prior to August, Stevens served as Lockheed Martin’s president and CEO. He has also served as the corporation’s chief financial officer, among other key positions.
Lockheed Martin also announced that Norman R. Augustine will retire as a member of the board effective in April 2005. Augustine has served on the Lockheed Martin board since the company was founded in 1995 and served as its chairman from 1997 to 1998 and its CEO from 1996 to 1997.
Lockheed’s board also elected James O. Ellis, Jr. as a new member. Ellis most recently served as Commander, U.S. Strategic Command in Omaha, Neb., before retiring in July 2004 after 35 years of service in the U.S. Navy. As Commander of the Strategic Command, Ellis was responsible for the global command and control of U.S. strategic forces. In his Naval career, Ellis held numerous commands, including Commander, U.S. Allied Forces Southern Europe.
A graduate of the U.S. Naval Academy, Ellis also
holds M.S. degrees in Aerospace Engineering from the Georgia Institute
of Technology and in Aeronautical Systems from the University of West
Florida. He served as a Naval aviator and was a graduate of the U.S.
Naval Test Pilot School. Recent Stories: Lockheed Martin's PAC-3 Missiles Successfully Intercept Two Targets During Flight Test Lockheed Martin Team Completes Key Design Milestone for Space-Based Infrared System High Program |
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