Raydon Gates to Assume Post as Chief Executive of Lockheed Martin Australia Pty Ltd

BETHESDA, Md., February 16, 2011 – Lockheed Martin Corporation (NYSE:LMT) has today confirmed its appointment of Raydon W. Gates, AO, CSM, as the new Chief Executive of Lockheed Martin Australia Pty. Ltd., along with his commencement of official duties on 4 March 2011.

“Raydon assumes the leadership of an Australian defence and civil business operation that has experienced rapid growth over the last five years, and now has six hundred employees,” said Lockheed Martin Vice President, Corporate International Business Development and Chairman of the Lockheed Martin Australia Board of Directors” Richard G. Kirkland. “His strong grasp and understanding of business principles achieved since leaving the Royal Australian Navy (RAN) in 2008, gives me full confidence that Raydon will rapidly advance our business growth objectives in Australia, including a forecast substantial increase in turnover and corporate footprint within the next five years.”

Gates will report to James R. Gribbon, Lockheed Martin Global Inc. Regional President, South Asia, who recently succeeded Kirkland as regional head. “Raydon’s appointment occurs at a time when Lockheed Martin is set to assume a headline relationship with the Royal Australian Air Force, as supplier of its front line fighter fleet - through the F-35A Joint Strike Fighter. We are also planning to bring to Australia our substantial global experience in underwater technology and systems, in support of the project Sea 1000 future submarine program. On the ground, Lockheed Martin is a lead competitor in the US Army’s Joint Light Tactical Vehicle (JLTV) project, and we are hopeful this vehicle will also end up an item of significant interest to the Australian Army as it explores its project Land 121/4 requirements,” said Gribbon.

He added, “Raydon’s time as Defence Attaché and Head of the Australian Defence Staff in Washington DC has ideally prepared him for his new position as Chief Executive of Lockheed Martin Australia. The strong Alliance and partnership between the United States and Australia is reflected daily in cooperative interactions, not only between our two armed forces, but also increasingly in civil administration and homeland security tasks. In this respect, I was particularly pleased to see our C-130J ‘Hercules’ aircraft in-service with the RAAF at the forefront of the Australian Government’s relief effort in the recent devastating Queensland floods. The Corporation has since become a significant donor of resources now being directed at the relief and reconstruction effort.”

Following on from his distinguished career in the Royal Australian Navy, Raydon Gates served as a Board Member and CEO of the Kokoda Foundation, a leading Canberra-based independent think-tank. He then spent time working as a private consultant in the defence-industry and national security areas. He also undertook a mentoring/coaching role in Leadership and Strategic Studies at the Australian Defence College, and served as a Director of the Williams Foundation. He holds a Masters Degree in Business Administration, a Graduate Diploma in Strategic Studies, and a Diploma of Company Directorship. He is also a graduate of a number of strategic leadership management programs from Mt Eliza (Victoria) Management College, the Australian Graduate School of Management, and Oxford & Harvard Universities.

Gates assumes the Lockheed Martin Australia Chief Executive position from Paul C. Johnson, who was appointed Managing Director of the Australian company in May 2003, and then as CEO of the restructured Australian business in 2008. In a recent company memo to staff on the transfer of leadership arrangements in Canberra, Gribbon commended Paul Johnson for his 25-year career with Lockheed Martin, and especially, his outstanding effort in building the company’s business in Australia and the Asia-Pacific region.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 132,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation’s 2010 sales from continuing operations were $44.8 billion. Lockheed Martin Australia is a 100% subsidiary of the parent company, employing over 600 staff throughout Australia.