Lockheed Martin's Incoming Chief Quits Over Relationship

5:16 PM, Nov 9, 2012   |    comments
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Aerospace and defense giant Lockheed Martin announced that its incoming CEO Christopher Kubasik has resigned from the company effective immediately because of a "close personal relationship with a subordinate employee." 

Kubasik, 51, was vice chairman, president and chief operating officer. He was due to become CEO in January.

Lockheed Martin is a major contractor at Robins AFB.

A company news release said the board named Marilyn Hewson as President and COO effective immediately and chief executive officer effective January 1.

According to the news release, Hewson joined Lockheed Martin in 1983 and has served as executive vice president of Electronic Systems business since January 2010.

The board said Kubasik's relationship with a subordinate violated the company's code of ethics but did not have any effect on the company's operational or financial performance.

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