What is Mr. Gregoire's relevant experience?

Mr. Gregoire brings substantial experience, including serving as the Principal Accounting Officer and Assistant Controller for Sprint Nextel Corporation, a former partner at Deloitte & Touche LLP, and a Professional Accounting Fellow at the SEC. He is also a Certified Public Accountant.

What happens to the previous Acting Controller?

Mark R. Bostic, who served as Acting Controller and Chief Accounting Officer, will continue with the Corporation in the role of Vice President, Accounting.

What is the compensation structure for the new Chief Accounting Officer?

Mr. Gregoire will receive a salary and bonus, participate in benefit plans consistent with his role, and is contemplated to receive an initial long-term incentive grant valued at approximately $490,000, subject to approval by the Management, Development and Compensation Committee of the Board of Directors. This grant will be in the form of equity.

LMT 8-K: Leadership Changes

Q: Who is the new Chief Accounting Officer at Lockheed Martin?

Christopher J. Gregoire has been appointed as the new Vice President, Controller, and Chief Accounting Officer of Lockheed Martin Corporation, effective March 29, 2010.

Summary

Lockheed Martin Corporation (LMT) announced a key executive change within its finance department via an 8-K filing on March 15, 2010. Effective March 29, 2010, Christopher J. Gregoire will assume the role of Vice President, Controller, and Chief Accounting Officer. Mr. Gregoire brings significant experience from his previous position as Principal Accounting Officer and Assistant Controller at Sprint Nextel Corporation, as well as a background as a former partner at Deloitte & Touche LLP and a Professional Accounting Fellow at the SEC. This appointment is significant as it fills a critical financial leadership role with a qualified individual, ensuring continued robust financial reporting and oversight. The company also noted that Mark R. Bostic, who held the interim role, will transition to Vice President, Accounting. Investors can interpret this appointment as a positive step in maintaining strong financial governance. Mr. Gregoire's extensive background in accounting, external financial reporting, and SEC disclosures suggests a commitment to transparency and accuracy. The compensation package, including a potential equity grant valued at approximately $490,000 subject to committee approval, aligns with executive roles and indicates the company's investment in experienced leadership. The transition is presented smoothly, with the former interim officer continuing in a key accounting capacity.

Key Highlights

1Appointment of Christopher J. Gregoire as Vice President, Controller, and Chief Accounting Officer, effective March 29, 2010.
2Mr. Gregoire previously served as Principal Accounting Officer and Assistant Controller at Sprint Nextel Corporation.
3He has a background as a former partner at Deloitte & Touche LLP and a Professional Accounting Fellow at the SEC.
4Mark R. Bostic, who served as Acting Controller, will move to Vice President, Accounting.
5Mr. Gregoire will report to Bruce L. Tanner, Executive Vice President and Chief Financial Officer.
6Potential equity grant valued at approximately $490,000 for Mr. Gregoire, subject to Board committee approval.

LOCKHEED MARTIN CORP 8-K Report, Executive Changes (Mar 15, 2010)

Summary

Key Highlights

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