| In The News #155 >> | ||
>> TITLE Lockheed’s New Leader Plans to Reinvent Company Lead Story-Dateline: >> SUMMARY Lockheed Martin Corp., one of the nation’s largest defense contractors, is seeking to reinvent the company business. The company’s new chief executive officer, Robert Stevens, believes future growth lies in the direction of software development and systems engineering. Mr. Stevens intends for Lockheed to become known as a company that integrates advanced systems and technologies into its products, instead of just a plane builder. Lockheed also appears poised to win Air Force contract approval for a new fighter jet with a price tag of $200 million per plane. The number of planes to be built is yet to be determined. Lockheed is also the biggest provider of information technology services to the U.S. government and Mr. Stevens intends to expand that area even more. The company also won a government contract to build a Navy combat ship, in spite of the fact Lockheed does not own a shipyard. Wall Street investors appear to like the new diversity focus and have pushed the company’s stock price higher in recent months. Goldman Sachs recently listed Lockheed as the investment firm’s top defense industry stock pick. >> Talking it Over and Thinking it Through
>> Thinking About the Future Lockheed’s new CEO recognizes that technology and innovation are the wave of the future. Any company that can position itself in the mind of its target consumer as a leader in innovation and technology will benefit from future contracts. Companies that do not evolve and change with the times will ultimately go out of business.
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