November 10, 2012 in Business

Lockheed ousts exec

Associated Press
 

BETHESDA, Md. – Lockheed Martin Corp. has ousted its president and future CEO over a relationship with a subordinate.

The defense company said Friday that its board of directors asked for and received the resignation of Christopher Kubasik from his role as vice chairman, president and chief operating officer. The 51-year old had been scheduled to become CEO in January.

Lockheed Martin said an ethics investigation confirmed that he had a close personal relationship with a subordinate employee. That violates the company’s code of ethics and business conduct.

The company’s board elected the executive vice president of its electronics systems business to take his role. Marillyn A. Hewson, 58, will serve as president, chief operating officer and director immediately and take over as CEO in January. She joined the company in 1983.

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