Lockheed Martin board member Ilene S. Gordon resigns

Published 24/05/2024, 15:58
© Reuters.

Ilene S. Gordon has resigned from her position on the Board of Directors of Lockheed Martin Corp (NYSE: NYSE:LMT), effective today. The company, a major aerospace and defense contractor, announced a recent SEC filing. Gordon's departure from the board is not due to any disagreement with Lockheed Martin's operations, policies, or practices.

Gordon, who has been a part of Lockheed Martin's Board for eight years, also served as the chair of the Management Development & Compensation Committee from 2019 to 2023. Her leadership in this role has been acknowledged by the company, which expressed gratitude for her service.

Lockheed Martin has not yet announced a successor or provided details on the process for filling the vacancy left by Gordon's resignation. The company's statement in the filing did not specify the reasons behind Gordon's decision to step down from the board.

Investors and industry analysts will be watching closely for any further developments or announcements from the company regarding its board composition and governance.

The information for this article is based on a recent SEC filing.

InvestingPro Insights

As investors consider the implications of Ilene S. Gordon's departure from Lockheed Martin's Board of Directors, it's worth noting the company's strong track record in shareholder value creation. One of the notable InvestingPro Tips for Lockheed Martin (NYSE: LMT) highlights that the management has been aggressively buying back shares, which can signal confidence in the company's future and often results in earnings per share (EPS) growth. Additionally, the company has raised its dividend for 21 consecutive years, reflecting a commitment to returning value to shareholders.

From a financial perspective, Lockheed Martin's real-time metrics provided by InvestingPro reveal a robust financial position. The company boasts an impressive market capitalization of 111.89 billion USD, indicating its significant presence in the aerospace and defense sector. Its Price/Earnings (P/E) ratio stands at a competitive 16.99, suggesting that the stock may be reasonably valued compared to its earnings. Moreover, the adjusted P/E ratio for the last twelve months as of Q1 2024 is even more attractive at 16.15. These metrics, coupled with a solid dividend yield of 2.7% as of the latest data, make Lockheed Martin a potentially appealing option for income-focused investors.

For those interested in further insights, the InvestingPro Tips for Lockheed Martin include additional information such as the company's low price volatility and its position as a prominent player in the Aerospace & Defense industry. To explore these tips in greater detail and discover more about Lockheed Martin's financial health, investors can visit https://www.investing.com/pro/LMT. Plus, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a total of 14 InvestingPro Tips that can help inform investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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