Friday, December 02, 2005

Lockheed Martins Independent Director?

Lockheed Martin (NYSE:LMT) elected a new independent board member. The new director James Schneider is currently CFO of Dell Inc. The press release outlines Mr. Schneider’s extensive resume. What it does not cover is what is the strategy for selecting members of the Board and why Mr. Schneider is such a good fit. The press release also indicates this was an election. Who cast ballots and what were the choices? When someone goes on the board I want to know why this individual will adequately represent shareholder interests. Having a good background in financial management is much too broad an accolade.