Lockheed Martin has announced the appointment of James Taiclet as president and CEO, succeeding Marillyn Hewson who has served in the roles since 2013. Ms Hewson will stay on as executive chairman of the board and to support the transition.

Mr Taiclet is a former USAF pilot, was a consultant at McKinsey & Company, vice president Engine Services at Pratt & Whitney, president of Honeywell Aerospace Services, and established American Tower Corporation in 2003.

“As a former military pilot, I understand the mission of this great corporation to provide global security and innovative solutions for the brave men and women who protect our freedom,” Mr Taiclet said in a company statement. “I come into this role at a time when our nation and its allies have been tested globally by new and emerging threats. Now more than ever, it’s critical we continue to deliver the best systems and equipment in the world.

“I’m honoured to succeed Marillyn, who is rightfully one of the most respected CEOs in America, and to lead a workforce that is inventing and advancing the technology and security of our future.”

Ms Hewson has worked at Lockheed Martin for 37 years, and in 2019 was named by Time magazine as one of the ‘100 Most Influential People in the World,’ and in 2018 and 2019 by Fortune magazine at the top of its list of ‘50 Most Powerful Women in Business.’