Kenneth Possenriede to Succeed Bruce Tanner as Lockheed EVP, CFO; Marillyn Hewson Quoted

Kenneth Possenriede, a more than 30-year Lockheed Martin (NYSE: LMT) veteran, has been named executive vice president and chief financial officer of the company in a move that will take effect Feb. 11.

He will succeed the retiring Bruce Tanner, a 37-year company executive who served as CFO for more than a decade, Lockheed said Monday.

Possenriede “is an accomplished leader with experience in every business area and Lockheed Martin UK,” said Marillyn Hewson, chairman, president and CEO of Lockheed and a four-time Wash100 awardee.

Possenriede currently serves as VP of finance and program management at Lockheed’s aeronautics business.

He has held senior leadership roles at the Bethesda, Md.-based defense contractor such as VP and treasurer for five years; VP of finance and business operations for space and former electronic systems business area; and CFO for Lockheed’s U.K. arm.

He also served as CEO and EVP CFO at Exostar on an acting basis between 2001 and 2003.

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