Pentagon’s biggest defense contractor Lockheed Martin stated on Tuesday main economical officer Ken Possenriede is retiring straight away “due to personalized reasons” and named a business veteran as an interim substitute.
What Occurred: The maker of F-35 fighter jets named John Mollard, the existing vice president and treasurer, to fill in quickly as a substitute for Ken Possenriede, a different business veteran who was main the CFO job at Lockheed given that February 2019.
Possenriede, sixty, has used in excess of 3 a long time with Lockheed in different roles which include as vice president and treasurer. His unexpected exit will come two times ahead of the company’s scheduled investor working day on Thursday and soon after a exceptional miss out on on quarterly earnings previous week.
Possenriede’s unexpected exit was not similar to any “financial or accounting difficulty or any disagreement with the business or any make