Lockheed Martin Says Will Reorganize Electronic Systems Into 2 New Business Areas; Berry Will Retire; Will Hit 200 Jobs
With a continuing focus on lean and efficient operations, Lockheed Martin Corporation (NYSE: LMT) today announced it will reorganize its Electronic Systems business area into two new business areas that position the company for growth by increasing customer alignment and reducing costs.
Effective December 31, the creation of the Missiles and Fire Control (MFC) and Mission Systems and Training (MST) business areas brings the company's total to five including Aeronautics, Space Systems, and Information Systems & Global Solutions. As previously announced, Marillyn Hewson, who currently leads the Electronic Systems business area, will assume the role of president and chief operating officer on January 1.
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