Defence Notes

Lockheed Martin pledges support for supply chain

27th March 2020 - 15:30 GMT | by The Shephard News Team

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Lockheed Martin is investing millions of dollars to support small and medium-sized enterprises within their supply chain as well as NGOs working to stem the tide on the COVID-19 coronavirus outbreak.

In a 27 March statement, the company’s CEO and President Marillyn Hewson said: ‘We will do our part to use our know-how, resources and leadership as a company to assist our communities and our country during this period of national crisis.’

Lockheed Martin has created a $50 million fund to allow supply chain partners to continue operating, sustain jobs and contribute to economic stability.

Furthermore, it is donating $10 million to health charities involved with providing relief assistance. This will focus on those helping veterans and military families.

Finally, a $6.5 million relief fund is being set up to help Lockheed Martin employees and retirees whose financial security is negatively impacted by COVID-19.

Hewson is due to stand down from the CEO and president role on 15 June. She will be replaced by James Taicet. 

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