Incoming Lockheed CEO resigns over ethics violation
Source: Reuters
Christopher Kubasik, the incoming chief executive of Lockheed Martin (LMT.N), resigned on Friday after he admitted to an improper relationship with a subordinate, the company said.
Kubasik, who was the defence 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.
Read more: http://uk.reuters.com/article/2012/11/09/uk-lockheed-kubasik-idUKBRE8A81JD20121109
Lars77
(3,032 posts)Blue_Tires
(55,445 posts)profiteering or rigging contract bids...
wow...
KoKo
(84,711 posts)pasto76
(1,589 posts)again with the potential to blackmail someone who has control over government contracts, equipment monies, etc
tomm2thumbs
(13,297 posts)Go Marilyn... get 'er done
thelordofhell
(4,569 posts)Thank you for your non-attempt at work
Baitball Blogger
(46,754 posts)Instead of spending more time with the family, they're leaving because of an improper liaison.
Jackpine Radical
(45,274 posts)away from his family.
Posteritatis
(18,807 posts)That'd be great. I'd just try to get fired once a decade or so.
tammywammy
(26,582 posts)DeSwiss
(27,137 posts)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.
And ''the Google'' also gives the same information about her when her named is spelled either way as well:
Marillyn Hewson
Marillyn Newson
tammywammy
(26,582 posts)Sloppy on their part.
http://www.lockheedmartin.com/us/who-we-are/leadership/hewson.html
CanonRay
(14,112 posts)Probably
tammywammy
(26,582 posts)Severance is $3.5M, no bonus and cannot exercise his unvested stock options.
http://www.businessweek.com/news/2012-11-09/lockheed-s-kubasik-slated-next-ceo-resigns-over-relationship