Printer Friendly

LOCKHEED, MARTIN MARIETTA SELECT BOARD MEMBERS FOR NEW VOUGHT CORPORATION

 LOCKHEED, MARTIN MARIETTA SELECT BOARD MEMBERS
 FOR NEW VOUGHT CORPORATION
 BETHESDA, Md., March 30 /PRNewswire/ -- The Lockheed and Martin Marietta Corporations (NYSE: LK) (NYSE: ML) today announced the nomination of six outside directors to Vought Corporation's seven- member board of directors.
 Vought recently was formed by Lockheed and Martin Marietta and has executed a definitive agreement to acquire substantially all of the LTV Corporation's aircraft and missiles businesses.
 Selected for Vought's board are: Laurence J. Adams, retired president and chief operating officer of Martin Marietta; Roy A. Anderson, retired chairman of Lockheed; Frederick W. Bradley Jr., senior vice president of Citibank, N.A.; Lt. Gen. Forrest McCartney, U.S. Air Force, retired; Gen. William Tuttle, U.S. Army retired; and Joseph G. Twomey, retired vice president and general counsel of Lockheed.
 Lockheed and Martin Marietta announced earlier that Richard J. Boyle, currently president and chief executive officer of LTV Aerospace and Defense Company, would serve as chairman of the board and chief executive officer of Vought.
 "These distinguished business and government leaders will fulfill important objectives. Under their guidance, Vought will operate as an independent Fortune 250 company, preventing dismantlement of a firm that has taken decades to build and ensuring that a valued competitor in the U.S. aerospace industry remains strong," said Norman R. Augustine, chairman and chief executive officer of Martin Marietta, and Daniel M. Tellep, chairman and chief executive officer of Lockheed, in a joint statement.
 "Equally important, LTV's aerospace and defense resources, including highly advanced technologies, will continue to be American- owned and U.S.-based, benefiting national interests," Augustine and Tellep added.
 The Vought transaction is subject to approval by U.S. Bankruptcy Court, which has scheduled a hearing for April 1.
 -0- 3/30/92
 /CONTACT: Robert Slayman of Lockheed Corporation, 818-876-2468, or Charles Manor of Martin Marietta Corporation, 301-897-6258/
 (LK ML) CO: Lockheed Corporation; Martin Marietta Corporation ST: District of Columbia IN: ARO SU: PER


SB -- DC015 -- 2949 03/30/92 14:06 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 30, 1992
Words:332
Previous Article:MAZDA PRICES ALL-NEW 1993 MODEL 626; RAISES PRICES OF SOME 1992 MODELS
Next Article:CWA MEMBERS STAGE RALLIES IN 11 CITIES; KICK OFF NATIONWIDE AT&T CONTRACT TALKS
Topics:


Related Articles
GORDON S. MACKLIN ELECTED 14TH MEMBER OF MARTIN MARIETTA BOARD OF DIRECTORS
NEWLY FORMED VOUGHT CORPORATION SIGNS CONTRACT TO ACQUIRE LTV'S AIRCRAFT AND MISSILES DIVISIONS
LTV ANNOUNCES DEFINITIVE AGREEMENT WITH VOUGHT FOR ACQUISITION OF AEROSPACE UNITS
NEWLY FORMED VOUGHT CORPORATION SIGNS CONTRACT TO ACQUIRE LTV'S AIRCRAFT AND MISSILES DIVISIONS
LAMAR ALEXANDER TO REJOIN MARTIN MARIETTA BOARD
LOCKHEED MARTIN PROMOTES VANCE COFFMAN TO PRESIDENT, CHIEF OPERATING OFFICER
BENNETT, MENAKER PROMOTED AT LOCKHEED MARTIN
Vance D. Coffman Elected Vice Chairman of Lockheed Martin
Peter B. Teets Elected to Lockheed Martin Board
Lockheed Martin Names Thomas A. Corcoran As Head Of Space & Strategic Missiles Sector; Robert B. Coutts to Lead Corporation's Electronics Sector.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters