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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.
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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