Lockheed Martin CEO will step down in January

04/26/2012 | Wall Street Journal, The · USA Today

Lockheed Martin CEO Bob Stevens, 60, says he will step down and turn the post over to Lockheed President Chris Kubasik in January. Stevens said his decision was prompted by the prospect of a long-term struggle with defense spending cuts, which he expects to last past what would be his mandatory retirement age of 65. Lockheed said this week that it was bracing for the sweeping spending cuts that would come as part of budget sequestration.

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Wall Street Journal, The · USA Today

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