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Tue, 11 Dec 2018

Lockheed Martin Appoints Kenneth R. Possenriede as EVP / CFO

Lockheed Martin has appointed Kenneth R. Possenriede, 58, as Executive Vice President and Chief Financial Officer, succeeding Bruce L. Tanner, who intends to retire in mid-2019.

Possenriede's appointment is effective 11 February 2019.

Kenneth R. Possenriede. Click to enlarge.

Possenriede is currently vice president of Finance and Program Management at Aeronautics, where he is responsible for all aspects of the business area's 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.

 Previously, he served as vice president of Finance and Business Operations for the corporation's former Electronic Systems business area; vice president of Finance and Business Operations for Space; and vice president of Finance and Business Management for the prior Mission Systems and Solutions (MS2) line of business.

 He also served as chief financial officer for Lockheed Martin United Kingdom and from 2001 to 2003 Possenriede was seconded as Interim CEO and EVP CFO at Exostar, an independent online supplier exchange backed by Lockheed Martin.

"Ken is an accomplished leader with experience in every business area and Lockheed Martin UK," said Marillyn Hewson, Lockheed Martin chairman, president and CEO. "During his more than 30-year career at Lockheed Martin, he has developed an impressive track record of delivering outstanding results for our customers, company and shareholders."

Possenriede holds a Master of Business Administration from the University of Michigan and a Bachelor's Degree from Rutgers University in economics.

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