8-KLeadership Changes

LOCKHEED MARTIN CORP 8-K Report, Executive Changes (Nov 22, 2006)

Filed November 22, 2006For Securities:LMT

Summary

This 8-K filing from Lockheed Martin Corporation (LMT) announced the upcoming retirement of Michael F. Camardo, Executive Vice President of Lockheed Martin Information & Technology Services, effective April 1, 2007. Mr. Camardo has had a long and distinguished career with the company, spanning over four decades, holding various leadership roles across predecessor entities such as RCA Service Company, GE Government Services, and Martin Marietta Services Group before his current position. The company indicated that a successor will be named in the near future. This announcement is primarily informational regarding a significant executive departure. Investors should note the long tenure of Mr. Camardo and the importance of the Information & Technology Services segment. The company's proactive communication about the upcoming retirement and the assurance of naming a successor in due course signals an organized transition plan.

Key Highlights

  • 1Announcement of the retirement of Michael F. Camardo, Executive Vice President - Lockheed Martin Information & Technology Services.
  • 2Mr. Camardo's retirement is effective April 1, 2007.
  • 3A successor for Mr. Camardo's role will be named in the near future.
  • 4Mr. Camardo has a long history with the company, joining in 1964 and holding various leadership positions.
  • 5The filing is made under Item 5.02 of Form 8-K, pertaining to departure of principal officers.
  • 6The filing date is November 22, 2006, with the earliest event date reported as November 16, 2006.

Frequently Asked Questions

Michael F. Camardo, Executive Vice President of Lockheed Martin Information & Technology Services, is retiring.

His retirement will be effective on April 1, 2007.

Yes, Lockheed Martin Corporation has stated that a successor will be named in the near future.

This announcement primarily concerns a leadership change within a key division of the company. Investors may monitor the announcement of the successor to assess leadership continuity and strategy for the Information & Technology Services segment. Mr. Camardo's long tenure highlights his significant contributions to the company's history.