Lockheed Martin

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named President Robert Stevens to an added CEO post, replacing Vance Coffman, who said in March he would retire.

The Bethesda, Md., defense contractor said Coffman will serve as nonexecutive chairman through April 2005. Coffman spent 37 years at Lockheed, the last seven as chief executive.

Lockheed shares rose 69 cents to $53.09.