Lockheed Martin Corp. board of directors member Douglas C. Yearley died on Sunday, October 7. Yearley, 71, served as a director of the corporation since 1995 when Lockheed Martin was formed with the merger of Lockheed Corporation and Martin Marietta.

"The entire corporation mourns the loss of Doug Yearley. We were very fortunate to have him as part of the Lockheed Martin board of directors," said Bob Stevens, Lockheed Martin Chairman, President and Chief Executive Officer. "Doug's leadership, mentoring and friendship will not easily be replaced. He clearly played a role in the success of this company, and we are all deeply saddened by Doug's death. On behalf of all Lockheed Martin employees and the board of directors, I extend our deepest sympathy to Anne and his entire family."

Yearley, who served as chairman of the board of directors of Phelps Dodge Corp. from 1989-2000, also served on the board of directors of United States Steel Corp., Marathon Oil Corp., and Heidrick & Struggles International, Inc. While on the Lockheed Martin board, Yearley served as chairman of the audit committee since 2003.

Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

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SOURCE: Lockheed Martin Corp.