Naomi Cooper
Thomas Falk, formerly chairman and CEO of Kimberly-Clark, has been elected to join the board of directors at Lockheed Martin as independent lead director, succeeding Daniel Akerson, who retired after five years in the role.
In his new role, Falk will preside over executive sessions of independent directors, approve agendas for board meetings and provide feedback to Lockheed’s management team, the defense and aerospace contractor said Thursday.
“His demonstrated independent judgement, integrity, and in-depth knowledge of the company allows for a smooth transition and will enable Tom to offer the kind of independent oversight that the role calls for,” said Jim Taiclet, president, CEO and chairman of Lockheed and a two-time Wash100 awardee.
Falk will chair the nominating and corporate governance committee and serve as an ex officio member of the board’s other committees.
He has served on Lockheed’s board since 2010 and had headed the board’s audit committee since 2015.
Lockheed’s board of directors has appointed Patricia Yarrington to succeed Falk as chair of the audit committee.
James Ellis Jr. also retired from the board Thursday after 20 years of service.
“On behalf of the entire board, we thank Dan for his tireless work as our independent lead director since 2019 and for his dedication to Lockheed Martin and the board since 2014. We also extend our thanks to Jim Ellis, who retired from the board today after 20 years, for his service to our company and efforts to advance 21st Century Security,” Taiclet said.
