logo
Plus   Neg
Share
Email

American Tower CEO Jim Taiclet Steps Down To Become CEO Of Lockheed Martin

American Tower Corp.'s (AMT) President, Chief Executive Officer and executive Chairman Jim Taiclet has stepped down from the company to become president and CEO of Lockheed Martin.

In Monday pre-market trade, AMT is trading at $213.84, down $25.15 or 10.52 percent.

American Tower has appointed Tom Bartlett to succeed Taiclet as President and Chief Executive Officer, effective immediately.

Bartlett has served as American Tower's Executive Vice President and Chief Financial Officer for over ten years, joining the company from Verizon Communications, Inc. in April 2009 after a career there of more than 25 years.

Rod Smith, American Tower's current Senior Vice President, Corporate Finance and Treasurer will become the new Executive Vice President, Chief Financial Officer and Treasurer. Smith has been with the company for more than ten years, including serving as Chief Financial Officer of the Company's U.S. Tower Division.

Taiclet joined American Tower in 2001 as President and Chief Operating Officer and became its Chief Executive Officer and Chairman in 2003, succeeding Company founder Steven Dodge.

Taiclet will continue as executive Chairman until the company's 2020 annual meeting, after which point, Pamela Reeve, the company's current lead independent director, will become non-executive Chair of the Board.

Following his departure from American Tower, Taiclet, who currently serves on the Board of Lockheed Martin, will become its President and Chief Executive Officer, replacing Marillyn Hewson.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Securities and Exchange Commission is investigating the circumstances around Eastman Kodak Co.'s (KODK) announcement of a $765 million government loan to make ingredients for Covid-19 drugs, the Wall Street Journal reported citing people familiar with the matter. The National Retail Federation or NRF said that conflicting economic data amid a resurgence in coronavirus cases has made it difficult to predict how steadily the U.S. economic recovery will continue. NRF Chief Economist Jack Kleinhenz noted that based on quarterly and monthly data, the U.S. economic recovery is continuing despite the elevated COVID-19 cases. Ford Motor Company (F) announced that Jim Hackett plans to retire as President and CEO. He will continue as a special advisor to the company through March of 2021. The company has named Jim Farley as new president and CEO. He will join the board of directors, effective Oct. 1. Farley joined Ford in...
Follow RTT