Lockheed Martin Corp Fired CEO Over Inappropriate Relationship
Lockheed Martin Corp. announced on Friday that CEO-to-be Christopher Kubasik was fired over inappropriate relationship with subordinate employee. The global aerospace enterprise claims the conduct of the 51-year-old vice chairman violated the company’s code of ethics, the Associated Press reports.
Christopher Kubasik was scheduled to become Lockheed Martin’s CEO in January, but he was ousted from the company on Friday after his romantic relationship with a subordinate came to light. The 51-year-old employee’s conduct has been irreproachable up until now, so the company chose him for the role of vice chairman, president and chief operating officer. However, Lockheed Martin could not overlook his recent mistake and Kubasik had to be laid off.
The company explained that an ethics investigation was performed in order to establish whether Kubasik was involved in a relationship with a subordinate or not. The results disappointed the company’s board who perceived the man’s behavior as a violation of their code of ethics and business conduct. As a consequence, they named Marillyn A. Hewson, 58, as president, chief operating officer and director. The business woman, who joined the company in 1983, will take up the role of CEO in January.
Christopher Kubasik released a statement expressing his deepest apologies for his inappropriate behavior. He further added that his departure did not affect the company’s stability. As a matter of fact, he is convinced that Lockheed Martin’s shares will continue to grow even after his withdrawal as the matter did not affect the company’s business.
Robert J. Stevens, chairman and CEO of Lockheed Martin was also saddened by the recent turn of events that led to Kubasik’s departure. He confessed that he was disappointed by Christopher’s actions, but he is willing to observe the company’s strict rules. This aspect alone demonstrates that the company is willing to hold employees accountable for their mistakes because proper conduct is important for the board.