Lockheed Names New Finance Chief

From the Associated Press:
Lockheed Martin, which makes the F-22 fighter jet and other defense systems, said today Bruce L. Tanner will succeed Christopher E. Kubasik as chief financial officer and executive vice president.

Tanner, 48, was named vice president of finance and business operations for the company's $12.2 billion Aeronautics business in April 2006. He will now oversee all aspects of the corporation's financial strategies, processes and operations.

Kubasik, 46, will move to head the Electronic Systems business and replace Robert B. Coutts, who will retire next year. He had been chief financial officer since 2001. Electronic Systems, with 37,000 employees and about $10.5 billion in annual sales, is one of the defense contractor's four businesses.

Lockheed Martin said Coutts will serve in a special assignment role reporting to the chief executive until his retirement in April 2008. The appointments are effective Sept. 1.

By Mike Shepard  |  August 10, 2007; 11:55 AM ET
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