Lockheed Martin has named Stanton D. Sloane executive vice president of Integrated Systems & Solutions (IS&S), effective June 1, 2004, replacing Albert E. Smith who has announced plans to retire Feb. 1, 2005. Sloane has been deputy of IS&S, since 2003.

To help with a smooth transition, Smith will serve in a special assignment role reporting to the Chief Executive Officer until his retirement date. IS&S, one of five major business areas in Lockheed Martin, was formed in June 2003 to leverage the corporation's existing and emerging capabilities to address customers' growing needs for highly integrated systems and solutions.

"Stan has a proven track record for business growth, strategic thinking and financial performance in two decades of leadership experience in program management, engineering and business development," said Vance D. Coffman, Lockheed Martin Chairman and CEO. "He is ideally suited to assume the top executive position in this critical business area."

Sloane previously served in a variety of positions at Lockheed Martin, including president and executive vice president of Management & Data Systems (M&DS) in Valley Forge, PA; and senior vice president, Network Systems Development at Lockheed Martin Global Telecommunications (LMGT). Earlier assignments included vice president of Radar/Sensor Systems in Syracuse, NY, along with several leadership positions in business development including service in Greece, England and Australia where he was the first CEO of a Lockheed Martin in-country joint venture.

Sloane is a 10-year veteran of the U. S. Navy and Naval Reserve, where he served as an aeronautical maintenance officer. He holds a bachelor's degree from Barry University, master's from Pepperdine University, and doctorate from Case Western Reserve University.

In making the announcement, Coffman praised Smith for "outstanding contributions to Lockheed Martin and our nation, serving in leadership roles at both the CIA and at our company since 1985." Smith had previously served as executive vice president of Lockheed Martin's Space Systems business area before being named to lead the newly created IS&S business area in June 2003. He also led the Milstar communications satellite program and other advanced space systems.

Headquartered in Bethesda, MD, Lockheed Martin employs about 130,000 people worldwide and is principally engaged in the research, design, development, manufacture and integration of advanced technology systems, products and services. The corporation reported 2003 sales of $31.8 billion.

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SOURCE: Lockheed Martin