Who is James M. Schneider and what is his role at Lockheed Martin?

James M. Schneider has been elected to the Board of Directors of Lockheed Martin Corporation, effective December 2, 2005. He will serve as an independent director and will be a member of the Audit Committee and the Management Development and Compensation Committee, including the Stock Option Subcommittee.

What is Mr. Schneider's professional background?

Mr. Schneider is currently the Senior Vice President and Chief Financial Officer of Dell Inc. Prior to that, he worked at MCI Communications Corp. and spent 19 years at Price Waterhouse, where he became a partner for 10 of those years. He is also a certified public accountant.

Why is this board appointment significant for investors?

Mr. Schneider's appointment brings extensive financial and accounting expertise to the board, particularly in his roles on the Audit Committee and the Compensation Committee. This suggests a continued focus on robust financial oversight, corporate governance, and executive compensation strategies, which are key considerations for investors.

Does Mr. Schneider have other board experience?

Yes, Mr. Schneider is a member of the board of directors for Dell Financial Services L.P., The Gap, Inc., and General Communication, Inc. He is also a member of the Financial Executives Institute.

LMT 8-K: Leadership Changes

Summary

Lockheed Martin Corporation (LMT) announced a key change to its Board of Directors in a Form 8-K filing dated December 1, 2005. The company elected James M. Schneider to its Board, effective December 2, 2005, where he will serve as an independent director. Mr. Schneider brings significant financial expertise to the board, currently serving as Senior Vice President and Chief Financial Officer of Dell Inc. His background includes extensive experience in accounting, having spent 10 years as a partner at Price Waterhouse. His appointment to the Audit Committee and the Management Development and Compensation Committee, including its Stock Option Subcommittee, indicates a focus on financial oversight and executive compensation matters. Investors may view this appointment as a positive step towards strengthening the company's governance and financial stewardship.

Key Highlights

1James M. Schneider elected to Lockheed Martin's Board of Directors, effective December 2, 2005.
2Mr. Schneider will serve as an independent director.
3He has been appointed to the Audit Committee.
4He has been appointed to the Management Development and Compensation Committee.
5He will also serve on the Stock Option Subcommittee.
6Mr. Schneider is currently Senior Vice President and Chief Financial Officer of Dell Inc.
7His prior experience includes 19 years at Price Waterhouse, with 10 years as a partner.

LOCKHEED MARTIN CORP 8-K Report, Executive Changes (Dec 1, 2005)

Summary

Key Highlights

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