Lockheed Martin's board of directors has approved the appointment of Kenneth R Possenriede, 58, as the company’s Executive Vice President and Chief Financial Officer (CFO).
Possenriede will be succeeding Bruce Tanner, a 37-year veteran of the company, slated to retire in mid-2019. The appointment is effective Feb 11, 2019, Lockheed Martin said in a statement Monday.
Possenriede is currently vice president of Finance and Program Management at Aeronautics, responsible for finances and program management processes, including accounting, contracts, business management, financial planning, scheduling and earned value.
Prior to his current role, Possenriede was vice president and treasurer for Lockheed Martin from 2011 to 2016. In that role, he was responsible for all aspects of the company's worldwide banking activity, including global treasury operations, foreign exchange and capital markets, rating agency relations, capital planning, facilities and risk management.
He holds a Master of Business Administration from the University of Michigan and bachelor's degree from Rutgers University in economics, the company said.
Lockheed Martin is the world's leading arms seller with $44.9 billion sales while the combined sales of 10 Russian companies $37
IFS Applications and Software has won a $3.5 billion Lockheed Martin contract for 2,600 user licenses of IFS Applications modules for supply chain management, warehouse management, purchasing and other functionality
Lockheed Martin and Airbus have signed an agreement to jointly explore opportunities for aerial refueling for the United States defense customers. The companies will seek to provide aerial-refueling services to address any identified capacity shortfall and to meet requirements for the next generation of tankers capable of operating in the challenging environments of future battlespace, Lockheed Martin said in a statement Tuesday
Lockheed Martin is awarded a $20.5 million modification contract to exercise options for ship integration and test of the Aegis Weapon System (AWS) for AWS baselines through Advanced Capability Build (ACB) 12
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