BETHESDA, MD.: Lockheed Martin Corp. has ousted its president and future CEO over a relationship with a subordinate.
The defense company, which has operations in Akron, said Friday its board of directors asked for and received the resignation of Christopher Kubasik from his role as vice chairman, president and chief operating officer.
Kubasik, 51, was scheduled to become CEO in January.
Lockheed Martin said an ethics investigation confirmed that Kubasik had a close personal relationship with a subordinate employee.
That violates the company’s code of ethics and business conduct.
“I regret that my conduct in this matter did not meet the standards to which I have always held myself,” Kubasik said in a news release.
He said that his departure in no way reflects on the strength of Lockheed Martin, where he has served for 13 years.
Lockheed Martin’s board elected the executive vice president of its electronics systems business to take Kubasik’s role.
Marillyn A. Hewson, 58, will be president, chief operating officer and a director. She takes over as CEO in January. Hewson joined the company in 1983. She will also keep her current role in the electronics systems business until the end of this year.
