Lockheed restructures corporate functions

Lockheed Martin Corp. is consolidating several corporate operations in an effort to cut costs, increase coordination and drive efficiencies, in its first week under new CEO Marillyn Hewson.

In a memo to employees, Hewson outlined four moves:

The enterprise business services and corporate internal audit functions will become part of finance and business operations.

Bruce Tanner, chief financial officer, will lead the effort, with chief information officer, Sondra Barbour, and vice president of internal audit, Erich Sanchack, reporting to him.

Operations and program management will be integrated into corporate engineering and technology under Ray Johnson, chief technology officer. Mike Joyce, who will be senior vice president of supply chain, will report to Johnson.

This move will result in the elimination of about 50 jobs, a Lockheed spokeswoman said.

At the corporate level, operations and program management monitor Lockheed performance and programs, and are involved in internal audits and process improvements.

Corporate communications and security will join human resources, in a new group called human resources and communications. Senior Vice President John Lucas will lead the team. A focus of the organization will be employee engagement, development and security, Hewson said in her memo.

Jennifer Whitlow will become vice president of corporate communications, replacing Ron Rand, who will become special assistant to Executive Chairman Bob Stevens. Bob Trono will continue his role as vice president and chief security officer, reporting to Lucas.

Corporate development will become part of corporate strategy and business development. Senior Vice President Pat Dewar will lead the team, and he will later detail the new corporate strategic development organization, Hewson said.

“By streamlining and tightening the corporate staff, we will be able to focus on actions that best position the company for success and growth in a demanding and dynamic environment,” she said in the memo.