Lockheed CEO-elect Kubasik resigns after ethics probe

Friday - 11/9/2012, 6:55pm EST

Christopher Kubasik, Lockheed Martin's president, chief operating officer and CEO-elect, resigned Friday after an ethics probe revealed a personal relationship with a subordinate employee, the company announced.

Lockheed's board of directors asked for Kubasik's resignation.

The board named Marillyn Hewson, the executive vice president of the company's Electronic Systems unit, the president and COO effective immediately. Hewson will also become the CEO in January 2013. Kubasik had been slated to become the company's chief executive, taking over for retiring Bob Stevens.

Lockheed said Kubasik's actions violated the company's code of ethics.

Lockheed's response "demonstrates our unyielding commitment to holding every employee accountable for their actions," Stevens said in a statement. "Fortunately, we have a strong leadership team and a robust succession plan that allowed the board and me to react quickly and appropriately to this situation."

The board named Stevens executive chairman to work alongside Hewson to "facilitate a smooth CEO transition."

Hewson, a veteran Lockheed employee, joined the company in 1983.