Lockheed Martin's Sim-Industries Names New CEO

Lockheed Martin has a new name next to the CEO title at one of its specialty units. The company announced that Sim-Industries, a subsidiary that produces flight simulation products, will be captained by Jeffrey Wood as its new CEO. He replaces Frank Uit den Bogaard, who has held the position since 2004.

Wood is a veteran of the aerospace industry, having served in executive positions in industry companies such as the privately held StandardAero and Airfoil Technologies International, where he was CEO and president.

In the press release announcing the appointment, Lockheed Martin quoted Jon Rambeau, vice president and general manager of its training and logistics solutions division, as saying of Wood that "his extensive track record of delivering results will continue to provide our customers with cost-effective training systems and innovative solutions."

Sim-Industries is based in the Netherlands, and Lockheed acquired it in 2011.

The article Lockheed Martin's Sim-Industries Names New CEO originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Lockheed Martin. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story