MoneyWatch

Lockheed Martin CEO Hewson to become chairman

December 16, 2013 / 8:36 AM EST / AP

BETHESDA, Md. - Defense contractor Lockheed Martin Corp. (LMT) has named President and CEO Marillyn Hewson to the additional role of chairman.

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Executive Chairman Robert Stevens is stepping down from his post and as a board member on Dec. 31. He will retire from the Bethesda, Md., company early next year.

Hewson's appointment as chairman is effective on Jan. 1, 2014.

Lockheed Martin's shares rose 26 cents to $139.29 in premarket trading. Its shares are up more than 50 percent in 2013.

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