Norman Augustine will retire as chief executive of Lockheed Martin on 1 August, 1997, to teach engineering at Princeton University. He will continue to serve the US aerospace powerhouse as its board chairman. Vance Coffman, president and chief operating officer will be elevated to chief executive upon Augustine's leaving. He previously served as president of the space and missiles division. Peter Teets, head of the company's information and services sector, will become executive vice-president and chief operating officer of the corporation.
Source: Flight International
