Marillyn Hewson and Igor Olenicoff reached prominent positions in American business through different routes. Hewson rose through Lockheed Martin to become chief executive of the aerospace and defense company. Olenicoff built his career around Olen Properties, a real estate business with commercial buildings and apartment communities. Their careers offer a useful comparison between managing a publicly traded corporation and building a business through property ownership. Hewson’s record includes a major helicopter acquisition and university philanthropy, while Olenicoff’s combines real estate expansion with a federal tax conviction. Lockheed Martin biography, Forbes profile.
Is there a connection between Hewson and Olenicoff?
The company biographies and institutional records reviewed for this article do not establish a family relationship or business partnership between them. The University of Alabama identifies James Hewson as Marillyn’s husband, while Olen Properties identifies Igor Olenicoff as its founder. University of Alabama, Olen Properties.
Marillyn Hewson’s rise through Lockheed Martin
Three decades before becoming CEO
Hewson joined Lockheed in 1983 as an industrial engineer. Her route to senior management included leadership assignments in systems integration, aircraft support and electronic systems. That experience placed her in several parts of a company whose work extends well beyond building aircraft. American Academy of Arts and Sciences, Chevron biography.
In November 2012, Lockheed Martin’s board elected her president and chief operating officer immediately, with her appointment as president and CEO effective January 1, 2013. She had been leading its Electronic Systems business since January 2010. Lockheed Martin appointment announcement.
She added the chairman’s role in January 2014, combining responsibility for leading the board with her duties as chief executive. Johnson & Johnson biography.
The Sikorsky acquisition
One of the defining transactions during Hewson’s tenure was Lockheed Martin’s purchase of Sikorsky Aircraft. The company announced the $9 billion agreement in July 2015 and completed the acquisition that November. The announced price was approximately $7.1 billion after anticipated tax benefits. Acquisition agreement, Completion announcement.
At the time of the deal, Sikorsky employed nearly 15,000 people in 11 countries, and its helicopters served all five branches of the U.S. armed forces. The business joined Lockheed Martin’s Mission Systems and Training segment, widening the company’s capabilities in helicopter production and maintenance. Lockheed Martin’s transaction overview.
A lasting investment in education
Hewson’s connection to the University of Alabama became visible on campus through Hewson Hall. Named for a $15 million gift from Marillyn and James Hewson, the business school building officially opened in September 2021. Its facilities include 22 classrooms and 31 collaboration rooms, giving students additional places to study and work together. Hewson Hall opening.
Igor Olenicoff and the growth of Olen Properties
Building a property business
Olenicoff’s business story centers on ownership and development. Olen Properties, based in Newport Beach, California, dates its founding to 1974. The company describes a strategy of controlled expansion, retaining properties for the long term and keeping management closely involved in operations. Olen’s company history.
The company keeps construction, property management, marketing, accounting and legal staff within the organization. That arrangement brings building work and tenant services under the same management structure. Olen says its expansion has come through company operations without outside equity investment. Olen’s operating model.
The 2007 federal tax case
Olenicoff’s financial history includes a criminal conviction. On December 12, 2007, he pleaded guilty to a felony count of filing a false tax return for 2002. The case involved his failure to disclose control over foreign financial accounts. He paid $52 million covering back federal taxes, interest and civil fraud penalties, and agreed to bring his offshore funds back to the United States. Forbes coverage of the guilty plea.
He received two years of probation and 120 hours of community service. Forbes reporting on the sentence.
How their business roles compare
| Business feature | Marillyn Hewson | Igor Olenicoff |
|---|---|---|
| Main company | Lockheed Martin | Olen Properties |
| Industry | Aerospace and defense | Commercial and residential real estate |
| Route to leadership | Promotion through corporate management | Founding and building a property company |
| Central business role | Former chairman, president and CEO | Founder and owner |
The comparison draws on Lockheed Martin’s appointment announcement and Forbes’ account of Olenicoff’s ownership.
Frequently asked questions
Where did Marillyn Hewson study?
She earned a bachelor’s degree in business administration and a master’s degree in economics from the University of Alabama. She also attended executive development programs at Columbia Business School and Harvard Business School. Lockheed Martin biography.
Who succeeded Hewson at Lockheed Martin?
James Taiclet became president and CEO on June 15, 2020. Hewson became executive chairman, leaving that position and the board in March 2021. Her transition agreement provided for a strategic advisory role through February 28, 2022. CEO transition, SEC-filed agreement.
Which other corporate boards has Hewson served on?
Her board work includes Johnson & Johnson and Chevron. Johnson & Johnson’s biography also lists her former directorships at DowDuPont and DuPont, extending her governance experience into healthcare, energy and chemicals. Johnson & Johnson director biography.
How large is Olen Properties?
As of September 2026, Olen’s website lists more than 8 million square feet of office and flex space and more than 17,000 apartments. These figures describe its property portfolio, rather than Olenicoff’s personal net worth. Olen portfolio figures.
Does Olenicoff’s family participate in the business?
Yes. Forbes identifies his daughter, Natalia Ostensen, as helping run the company’s daily operations. Forbes profile.
Conclusion
Hewson’s career traces the demands of leading a major aerospace corporation. Olenicoff’s follows the opportunities and responsibilities of building a property business. A useful comparison considers their actual decisions, organizations and conduct, giving achievements and setbacks their proper weight.
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