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Lockheed CEO rejects Pentagon concerns about industry consolidation
October 20, 2015 / 4:22 PM / 2 years ago

Lockheed CEO rejects Pentagon concerns about industry consolidation

Oct 20 (Reuters) - Lockheed Martin Corp’s CEO Marillyn Hewson said the company’s pending takeover of helicopter maker Sikorsky would not affect innovation and competition, despite worries from the Pentagon’s top arms buyer.

“I guess I’ve had a lot of discussions with Frank Kendall and others about this policy statement that he put out,” Hewson said in a conference call on Tuesday after the release of third quarter results. “And respectfully, I told him that we disagree with that; that his general conclusion and his rationale that consolidation in the industry is bad for the industry, there’s really no evidence to support that,” she said.

Kendall, the undersecretary of defense for acquisition, has previously said that mergers were increasing the leverage companies have with the U.S. Department of Defense. (Reporting by Idrees Ali; Editing by Chizu Nomiyama)

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