Article by Bob Cox, 817-390-7723, or Twitter
Distributed by MCT Information Services
The giant Bethesda, Md.- based defense company said that, effective Dec. 31, it will reorganize its electronic systems business segment into two separate divisions.
Additional Lockheed subsidiaries and operating units will be included under the Missiles and Fire Control division headquarters. The move will put the leadership of the Grand Prairie company on the same level as Lockheed Martin Aeronautics in Fort Worth.
The reshuffling of corporate entities means two of the five major operating segments of Lockheed Martin will be based in the Dallas/Fort Worth area, which is already a major U.S. defense and aerospace industry center.
As a result of the changes, Rick Edwards, a missiles unit executive, will become a Lockheed executive vice president and will head the division. He will replace the division’s long-time head, Jim Berry, who is retiring.
Edwards will be one of five division heads reporting to incoming Lockheed Chief Executive Christopher Kubasik and President Marilyn Hewson. Kubasik, now president and chief operating officer, will succeed retiring CEO Robert Stevens.
Under Berry, the missiles unit included a major operation in Orlando, Fla. as well as several smaller business units.
The missiles business segment will have 16,000 employees at several sites. Lockheed said the reorganization will likely result in 200 jobs being cut across the reorganized divisions. The plan should result in $50 million in annual cost savings.
The division employs about 2,800 in Grand Prairie, mostly engineering and technical staff, and has significant manufacturing operations at Lufkin and in Pine Bluff, Ark.
The missiles division has a track record of developing and producing successful defense systems including the Terminal High Altitude Area Defense System (THAAD) in development to guard against long range missile attacks. It recently won an Army contract to develop prototypes for the planned Joint Light Tactical Vehicle, a ground combat vehicle for the Army and Marines.
(c)2012 the Fort Worth Star-Telegram
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