Incoming LM CEO resigns

The incoming chief executive officer of Lockheed Martin, Christopher E. Kubasik, resigned Friday at the request of the company board of directors for having an affair with a subordinate. Kubasik, 51, who was to become chief executive officer in January, is being replaced by Marillyn Hewson, 58. (Sources: multiple, including Wall Street Journal, 11/09/12, Bloomberg, Panama City News Herald, 11/11/12) Gulf Coast note: Lockheed Martin has operations throughout the Gulf Coast region, including Tyndall Air Force Base, Fla., and Stennis Space Center, Miss. The company builds the F-35 and F-22 fighters that are based at Eglin Air Force Base and Tyndall, both in Northwest Florida.