Pentagon’s largest protection contractor Lockheed Martin Corp (NYSE: LMT) mentioned on Tuesday Chief Monetary Officer Ken Possenriede is retiring instantly “attributable to private causes” and named an organization veteran as an interim alternative.
What Occurred: The maker of F-35 fighter jets named John Mollard, the present vp and treasurer, to fill in briefly as a alternative for Ken Possenriede, one other firm veteran who was main the CFO position at Lockheed since February 2019.
Possenriede, 60, has spent over three many years with Lockheed in numerous roles together with as vp and treasurer. His sudden exit comes two days forward of the corporate’s scheduled investor day on Thursday and a uncommon miss on quarterly earnings final week.
Possenriede’s sudden exit was not associated to any “monetary or accounting challenge or any disagreement with the corporate or any matter regarding the corporate’s operations, insurance policies or practices,” Lockheed mentioned in a