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Lockheed Martin Corporation

Aerospace & DefenseFounded 1995
Reviewed by Swet Parvadiya
Company data updated: October 2026

Leadership History

Lockheed Martin: CEO History

3 leaders · 1995 to present

Who is the CEO of Lockheed Martin?

James D. Taiclet is the CEO of Lockheed Martin, in the role since 2020. The first chief executive was Norman Augustine, from 1995.

Current CEO
James D. Taiclet (since 2020)
First CEO
Norman Augustine (1995)
Leaders documented
3
Founded
1995
NameRoleFromToYears in role
James D. TaicletChairman, President, and Chief Executive Officer2020Present6
Marillyn HewsonChairman, President, and Chief Executive Officer201320207
Norman AugustineFounding Chairman and Chief Executive Officer199519972
Who was CEO of Lockheed Martin before James D. Taiclet?
Marillyn Hewson was CEO of Lockheed Martin from 2013 to 2020, before James D. Taiclet took over in 2020.

Company Overview

Lockheed Martin Corporation, headquartered in Bethesda, Maryland, is the largest U.S. defense contractor by sales. Formed in 1995 by the merger of Lockheed Corporation and Martin Marietta, it reported $75.0 billion in 2025 net sales and employs about 123,000 people. Its best-known products include the F-35 Lightning II, the C-130J, PAC-3 and THAAD interceptors, HIMARS, Sikorsky Black Hawk helicopters, Aegis combat systems, GPS III satellites and NASA's Orion spacecraft. The company trades on the NYSE as LMT and is led by Chairman, President and CEO James D. Taiclet.

James D. Taiclet

Chairman, President, and Chief Executive Officer

2020 – Present

6 years (current)

Legacy

James Taiclet joined Lockheed Martin as CEO in June 2020, bringing an unusual background for a defense industry chief executive: he had previously served as CEO of American Tower Corporation, one of the world's largest telecommunications infrastructure companies, and before that as a senior executive at Honeywell and as an U.S. Air Force officer who flew the A-10 Thunderbolt in combat. Taiclet's telecommunications background directly informed his '21st Century Security' strategic framework, which positions Lockheed Martin as a network-centric technology integrator rather than a discrete platform manufacturer drawing explicit analogies between the 5G telecommunications architecture transforming commercial communications and the all-domain command-and-control networks he believes will define future military advantage. Under his leadership, the company has invested in digital engineering, artificial intelligence integration across its product portfolio, and a series of technology bolt-on acquisitions including Terran Orbital. Net sales grew from $65.4 billion in 2020 to $75.0 billion in 2025, and backlog reached a record $230 billion in mid-2026, while the company maintained disciplined capital returns to shareholders.

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Marillyn Hewson

Chairman, President, and Chief Executive Officer

2013 – 2020

7 years

Legacy

Marillyn Hewson served as CEO of Lockheed Martin for seven years, handling the company through the most challenging phase of the F-35 program while delivering consistent shareholder returns and expanding the company's international revenue base. Under her leadership, the company completed the $9 billion acquisition of Sikorsky Aircraft, divested the IS&GS information technology segment in the Leidos transaction, and drove the F-35 program from a troubled development project to an operational aircraft deployed by a growing list of allied nations. Hewson oversaw the establishment of the company's 21st Century Security brand positioning and championed investments in hypersonics, directed energy, and other advanced capabilities that have positioned the company for next-generation program competitions. Her tenure saw revenue grow from approximately $45 billion to over $65 billion while the company raised its dividend for over a decade consecutively.

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Norman Augustine

Founding Chairman and Chief Executive Officer

1995 – 1997

2 years

Legacy

Norman Augustine was the architect of the Lockheed-Martin Marietta merger and the founding CEO of Lockheed Martin Corporation, translating his prediction that the defense industry would consolidate from many firms to a handful of primes into the definitive act of post-Cold War defense consolidation. His tenure was brief he retired in 1997 after setting the company's strategic direction and completing the integration of the two legacy companies but his structural contributions to the company's position were foundational. Augustine's relationships with Pentagon leadership and Congressional defense committees, built over a career spanning industry and government service, provided Lockheed Martin with political capital that was essential in handling the regulatory approval process for the merger and establishing the combined company's credibility with its primary customer. His leadership created the modern aerospace consolidation blueprint that continues to define the entire defense industry.

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Challenges & Strategic Context

Fixed-price development contracts are the main execution risk. In 2024 and 2025 Lockheed recorded large losses on a classified Aeronautics program and on Canadian Maritime Helicopter and other programs, including about $1.6 billion of program losses in the second quarter of 2025 alone, which pushed 2025 net earnings down to $5.0 billion despite higher sales. The F-35 has faced delayed TR-3 hardware and software upgrades, which led the Pentagon to withhold part of delivery payments in 2023-2024. Other pressures include dependence on U.S. budget appropriations and continuing resolutions, supply chain constraints in solid rocket motors and microelectronics, and the challenge of scaling missile production quickly enough to meet record demand.

Lockheed Martin CEO and Leadership FAQ

Who have been the key Chief Executive Officers in Lockheed Martin's history?

Prominent chief executives include Daniel M. Tellep (1995 to 1996), Norman R. Augustine (1996 to 1997), Vance D. Coffman (1997 to 2004), Robert J. Stevens (2004 to 2012), Marillyn A. Hewson (2013 to 2020), and current Chairman, President, and CEO James D. Taiclet (June 2020, present).

What was Norman R. Augustine's well-known role in creating modern Lockheed Martin?

Norman Augustine, a revered aerospace statesman and CEO of Martin Marietta, was the primary architect behind the 1995 merger with Lockheed and authored the well-known management satire book 'Augustine's Laws', setting the standard for defense industry consolidation.

What was Marillyn A. Hewson's transformational tenure as CEO (2013 to 2020)?

Marillyn Hewson led a notable era of shareholder value creation: acquiring Sikorsky Aircraft for $9.0B in 2015, divesting legacy IT services (IS&GS to Leidos), scaling F-35 production from low-rate to full-rate manufacturing, and seeing market cap surge over 300%.

What professional background did Jim Taiclet bring when appointed CEO in 2020?

Jim Taiclet graduated from the US Air Force Academy, served as an Air Force pilot in the Gulf War, held senior executive roles at Pratt & Whitney and Honeywell Aerospace, and served for 17 years as Chairman and CEO of telecommunications infrastructure giant American Tower.

What strategic milestones has CEO Jim Taiclet achieved at Lockheed Martin?

Jim Taiclet established the '21st Century Security' doctrine, signed historic commercial tech alliances with Microsoft, Verizon, and Intel, expanded global PAC-3 and HIMARS production capacity, and returned over $20 billion in capital to shareholders.

Who serves as the Chief Financial Officer of Lockheed Martin Corporation?

Evan T. Scott serves as Chief Financial Officer of Lockheed Martin, having previously served as VP of Financial Planning & Analysis, directing capital allocation, enterprise treasury, pension funding, and investor relations.

How has leadership structured executive compensation at Lockheed Martin?

Executive compensation is heavily aligned with shareholder value through performance stock units (PSUs) tied directly to three-year free cash flow per share, return on invested capital (ROIC), and relative total shareholder return (TSR) against the S&P 500.

What industry awards and recognitions has CEO Jim Taiclet received?

Jim Taiclet is a member of the Council on Foreign Relations, serves on the US-India CEO Forum, and is recognized by Aviation Week and Chief Executive Magazine for pioneering digital network integration across the aerospace industry.

Who is the CEO of Lockheed Martin?

Jim Taiclet serves as CEO, succeeding the highly successful Marillyn Hewson in 2020. Taiclet is highly unique: he is a former US Air Force pilot who flew transport jets during the Gulf War, but later became CEO of American Tower (a massive cell tower company). His absolute primary mandate is "21st Century Security"—aggressively forcing Lockheed to integrate Silicon Valley tech (AI, 5G) into their aging hardware.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.