Incoming Lockheed CEO resigns over ethics violation
WASHINGTON (Reuters) - Christopher Kubasik, the incoming chief executive of Lockheed Martin, resigned on Friday after he admitted to an improper relationship with a subordinate, the company said.
Kubasik, who was the defense contractor's chief operating officer, had been slated to become CEO in January, replacing Bob Stevens.
Lockheed named Marillyn Newson, 58, as CEO effective January 1, 2013. Stevens was named as executive chairman and will work with Hewson on the leadership transition.
Lockheed's board asked for, and received, Kubasik's resignation after the discovery of "a close personal relationship with a subordinate employee" that violated the company's code of ethics and business conduct.
Kubasik's actions "did not affect the company's operational or financial performance," the company added.
Hewson has been with Lockheed Martin since 1983. She was named president and chief operating officer-elect in April.
(Reporting By Andrea Shalal-Esa; Editing by Leslie Adler and Marguerita Choy)
- Judge rejects strict limits on U.S. nurse who treated Ebola patients |
- Test flight of Virgin Galactic spaceship ends in fatal crash in California
- Suspect in Pennsylvania police ambush denied bail |
- Dow, S&P 500 end at record highs; BoJ move adds fuel to rally |
- Judge issues order enforcing Ebola isolation of defiant Maine nurse