The vice chairman, president and chief operating officer of Lockheed Martin, Christopher Kubasik, has resigned from the aerospace giant.
Kubasik, previously slated to become CEO in January, resigned after an ethics investigation confirmed that he had a…
The vice chairman, president and chief operating officer of Lockheed Martin, Christopher Kubasik, has resigned from the aerospace giant.
Kubasik, previously slated to become CEO in January, resigned after an ethics investigation confirmed that he had a close personal relationship with a subordinate employee. His actions violated the company’s Code of Ethics and Business Conduct, but did not affect the company’s operational or financial performance.
“While I am deeply disappointed and saddened by Chris’ actions, which have been inconsistent with our values and standards, our swift response to his improper conduct demonstrates our unyielding commitment to holding every employee accountable for their actions,” said Robert Stevens, chairman and CEO.
The Lockheed board has subsequently elected Marillyn Hewson as the president and COO, effective immediately. She will also become the company’s chief executive as of 1 January 2013. Hewson will retain her role as executive vice president of Electronic Systems business area until the end of this year.
The board also elected Stevens as executive chairman effective 1 January. In that role he will work with Hewson to facilitate a smooth CEO transition.
Hewson joined Lockheed Martin in 1983 and has served as executive vice president of the Electronic Systems business area since January 2010. She was named president and COO-elect by the board in April 2012.
