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Lockheed Martin ousts new CEO for relationship
BETHESDA, Md. (AP) — Lockheed Martin Corp. has ousted its president and future CEO over a relationship with a subordinate.
The defense company said Friday that its board of directors asked for and received the resignation of Christopher Kubasik from his role as vice chairman, president and chief operating officer.
Kubasik, 51, was scheduled to become CEO in January.
Lockheed Martin says an ethics investigation confirmed that he had a close personal relationship with a subordinate employee. That violates the company’s code of ethics and business conduct.
“I regret that my conduct in this matter did not meet the standards to which I have always held myself,” Kubasik said in a statement.
Kubasik joins a roster of high-ranking executives who have exited their posts in recent years over the fallout from ill-advised relationships.
Among them, former Best Buy CEO Brian Dunn, who resigned from the retailer in April after an investigation found he violated company policy by having an inappropriate relationship with a female employee.
In other cases allegations of improper behavior supported by a paper trail of questionable spending have provided enough fuel to drive top management out of the executive suite.
The investigation uncovered no merits to the claims, however it was discovered through the course of the probe that Hurd falsified some reports to disguise expenses he incurred for meals and travel with the woman.
According to a statement he sent to CIA employees, Petraeus asked President Barack Obama on Thursday to allow him to resign and on Friday the president accepted it. Petraeus said he had shown “extremely poor judgment” in having the affair.
“Such behavior is unacceptable, both as a husband and as the leader of an organization such as ours,” Petraeus said.
William Sannwald, a professor of business ethics at San Diego State University, said there’s no easy way to explain why executives continue to be ensnared in these sorts of ethical lapses.
By John R. Bolton
The president fiddles at his domestic altar while the world burns
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