<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 3, 2000
Lockheed Martin Corporation
(Exact name of registrant as specified in its charter)
Maryland 1-11437 52-1893632
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification Number)
incorporation)
6801 Rockledge Drive
Bethesda, Maryland 20817
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (301) 897-6000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
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Lockheed Martin Corporation is filing this Current Report on Form 8-K in
order to provide the information contained in Lockheed Martin's press release
dated April 3, 2000 which is included as Exhibit 99.1 to this Current Report on
Form 8-K.
Item 7. Exhibits.
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<TABLE>
<CAPTION>
Exhibit No. Description
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<S> <C>
99.1 Lockheed Martin Corporation Press Release dated April 3, 2000.
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Signatures
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: April 4, 2000
LOCKHEED MARTIN CORPORATION
By: /s/ Marian S. Block
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Marian S. Block
Vice President, Associate General
Counsel and Assistant Secretary
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EXHIBIT INDEX
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<TABLE>
<CAPTION>
Exhibit No. Description
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<S> <C>
99.1 Lockheed Martin Corporation Press Release dated April 3, 2000.
</TABLE>
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Exhibit 99.1
For Immediate Release
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Louis R. Hughes Selected President and COO of Lockheed Martin
BETHESDA, Maryland, April 3, 2000 -- Lockheed Martin Corporation (NYSE: LMT)
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today announced the selection of Louis R. Hughes as president and chief
operating officer (COO), effective April 27. Hughes succeeds Peter B. Teets, who
retired from the Corporation.
As COO, Hughes will report to Chairman and CEO Vance D. Coffman and will be
responsible for day-to-day operations, while Coffman will focus on strategic and
financial issues. The leaders of the corporation's four business areas and its
Global Telecommunications subsidiary, along with the Chief Financial Officer,
will report to the Office of the Chief Executive, which will include Hughes and
Coffman.
Hughes, 51, joins Lockheed Martin from General Motors Corporation where he had
served as executive vice president and president of GM's $36 billion
international operations, based in Zurich, Switzerland. In that capacity, he was
part of the GM President's Council-consisting of GM's top six executives-
responsible for evaluating all key strategic, operating, financial and personnel
decisions. Most recently, as executive vice president-new business strategies,
Hughes was responsible for the development of new business and for managing GM's
relationships with international business partners. Earlier in his career, he
led the turnaround and rapid expansion of Adam Opel A.G.
"I'm delighted that Lou has agreed to join our team," Coffman said. "He has a
proven track record in the international marketplace, solid financial experience
and expertise in product design, development, manufacturing and marketing. His
background and fresh perspective will be invaluable to us as we continue to
execute on our previously announced plan to deliver increased efficiencies,
improved customer satisfaction, more robust financial performance, and greater
shareholder value."
Added Coffman, "I look forward to working with Lou to achieve our goal of being
the world's leading integrator in the aerospace, defense and technology services
industries." "Lockheed Martin is a world-class organization and a national
asset. While it has faced significant challenges in the past, it has made
tremendous progress in identifying the way forward and addressing those issues.
I am pleased to bring my perspective to the organization at this very exciting
time in its history, and to be working closely with Vance and the rest of his
team to execute Lockheed Martin's strategy of driving shareholder value through
performance and commitment to core customer satisfaction," Hughes said.
<PAGE>
Board member and former vice chairman of General Electric Gene Murphy, who with
Coffman co-chaired the search committee, said the selection of Hughes bolsters
the Corporation's strategy to restore and grow shareholder value. "Lou has an
enormous breadth of operational and financial experience, along with a wealth of
insight in working with a diversity of cultures, which was highlighted in his
repositioning of Opel and GM-Europe," he said. Murphy also cited Hughes' success
in implementing lean manufacturing and other cost-saving techniques. "We are
confident Lou can help advance Lockheed Martin's already aggressive cost
reduction initiatives," he added.
Board member Norman R. Augustine, also a member of the search committee, praised
Hughes' solid record of achievement in profitably growing the businesses under
his direction. "In Europe, South America, the Far East and many other parts of
the world, Lou was able to expand GM's reach, increase sales, and improve
profitability. His experience will complement Vance Coffman's leadership and add
to the strong management team that is now in place to achieve steady and long-
term progress," Augustine said.
A 1971 mechanical engineering graduate of the GM Institute, Hughes earned his
master's in Business Administration from Harvard University in 1973.
Headquartered in Bethesda, Md., Lockheed Martin is a global enterprise
principally engaged in the research, design, development, manufacture and
integration of advanced-technology systems, products and services. The
Corporation's core businesses are systems integration, space, aeronautics, and
technology services. Lockheed Martin had 1999 sales surpassing $25 billion.
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CONTACT: James Fetig, 301-897-6352
WEB SITE: www.lmco.com
