8-KOther EventsExhibits & Filings

LOCKHEED MARTIN CORP 8-K Report, Corporate Update (Mar 19, 2013)

Filed March 19, 2013For Securities:LMT

Summary

Lockheed Martin Corporation (LMT) filed an 8-K report on March 18, 2013, to announce significant changes in its senior leadership. The primary driver for these changes is the impending retirement of Larry Lawson, effective April 5, 2013. To ensure a smooth transition and continued operational strength, the company has made key appointments within its executive ranks. These leadership adjustments are investor-focused as they signal continuity and strategic positioning within critical business areas. The appointment of Orlando D. Carvalho as Executive Vice President of the Aeronautics business area and Lorraine Martin as vice president and general manager of the highly significant Lightning II program are intended to maintain momentum and expertise in these vital segments of Lockheed Martin's operations.

Key Highlights

  • 1Announcement of senior leadership changes at Lockheed Martin Corporation.
  • 2Retirement of Larry Lawson, effective April 5, 2013.
  • 3Appointment of Orlando D. Carvalho as Executive Vice President of the Aeronautics business area.
  • 4Election of Lorraine Martin as vice president and general manager of the Lightning II program.
  • 5These appointments are effective immediately as of March 18, 2013.
  • 6The press release announcing these changes is furnished as Exhibit 99.1.
  • 7The report was filed on March 18, 2013, with the earliest event reported being March 18, 2013.

Frequently Asked Questions

This 8-K filing is primarily to announce senior leadership changes within Lockheed Martin Corporation due to the upcoming retirement of executive Larry Lawson.

Orlando D. Carvalho has been appointed Executive Vice President of the Aeronautics business area, and Lorraine Martin has been elected vice president and general manager of the Lightning II program.

The appointments of Orlando D. Carvalho and Lorraine Martin are effective immediately as of March 18, 2013. Larry Lawson's retirement is effective April 5, 2013.

The appointment of Lorraine Martin to lead the Lightning II program highlights the strategic importance of this program to Lockheed Martin. Investors often watch leadership stability and expertise in key programs like the F-35 Lightning II for indications of program execution and future performance.