James Taiclet, age 59, is set to become president and CEO of Lockheed Martin, effective June 15, succeeding Marillyn Hewson, age 66, who has served as chairman, president and CEO of the company since 2014; and president and CEO since 2013. Hewson will become executive chairman of the board, also effective June 15, subject to her re-election.
Taiclet will continue to serve as a member of Lockheed’s board, which he joined in 2018. He has served as chairman, president and CEO of American Tower Corporation since 2004 and CEO since 2003. During that time, Lockheed notes American Tower increased its market capitalization from approximately US$2 billion to approximately US$100 billion. Taiclet guided the company’s transformation from being primarily a U.S. business to a global player in its industry, with operations in 19 countries.
“I know it is the right time to transition the leadership of Lockheed Martin. The corporation is strong, as evidenced by our outstanding financial results last year and a record backlog of business. We have a bright future – particularly with Jim and our outstanding leadership team at the helm,” said Hewson. “I’m pleased the board agreed with my recommendation. As Lockheed Martin’s next CEO, Jim will lead the company forward in its next phase of growth and value creation.”
Prior to joining American Tower in 2001, Taiclet was president of Honeywell Aerospace Services, a unit of Honeywell International, and prior to that was vice president, engine services at Pratt & Whitney, a unit of United Technologies Corporation.
Taiclet also previously served as a consultant at McKinsey & Company, specializing in telecommunications and aerospace strategy and operations. He began his career as a United States Air Force officer and pilot and served a tour of duty in the Gulf War. Taiclet holds a Master’s degree in public affairs from Princeton University, where he was awarded a fellowship at the Woodrow Wilson School and is a distinguished graduate of the United States Air Force Academy with degrees in engineering and international relations.
“I’m honoured to be asked to succeed one of the most respected CEOs in America. While serving on Lockheed Martin’s board, I’ve not only been impressed by the company’s continued growth as a leader in aerospace and defense but also by the dedication and commitment of Marillyn and Lockheed Martin employees to deliver for its customers,” said Taiclet. “As a military veteran, I understand the mission of this great company to provide global security and innovative solutions for the brave men and women who protect our freedom.”
Frank St. John, age 53, the current executive vice president of Lockheed Martin’s Rotary and Mission Systems (RMS) business, was elected by the board to serve as chief operating officer. Stephanie Hill, age 55, senior vice president, Enterprise Business Transformation, was appointed to succeed St. John as executive vice president, RMS. Their appointments are also effective June 15.
St. John joined Lockheed Martin more than 30 years ago and took on roles of increasing responsibility in engineering and program management before joining the corporation’s executive leadership team. Most recently, he has served as executive vice president of RMS and prior to that as executive vice president of Missiles and Fire Control.
Hill has served as senior vice president, Enterprise Business Transformation, where she led the corporation’s Digital Transformation and Enterprise Information Technology teams. Prior to that, Hill was deputy executive vice president of RMS and senior vice president for corporate strategy and business development. She held positions of increasing responsibility since joining Lockheed Martin in 1987 as a software engineer.