Lockheed President, COO to Leave Company

Lockheed Martin Corp. said its President and Chief Operating Officer Louis Hughes will resign effective Oct. 31, just six months after he left his post at General Motors Corp. to join the aerospace company. Hughes, who was hired April 27, said that being separated from his family for extended periods made “devoting full energy” to both his “corporate and family commitments” difficult. Robert Stevens, Lockheed’s chief financial officer, will succeed Hughes, maintaining the CFO position, until a permanent replacement is found. Stevens was also elected as a board director. Bethesda, Md.-based Lockheed closed up 27 cents at $32.51 on the NYSE.