By Kimberly Chin

 

Lockheed Martin Corp. Chief Financial Officer Kenneth Possenriede will step down to retire due to personal reasons.

The aerospace and defense company said vice president and Treasurer John Mollard will take over his responsibilities as the acting CFO. The changes will go into effect immediately, the company said.

"We thank Ken for his many contributions during his three plus decades of service to the company and wish him the best in his retirement," Chief Executive James Taiclet said in prepared remarks.

Prior to holding the CFO post, Mr. Possenriede was the vice president of finance and program management in the company's Aeronautics business. He has also served as the company's vice president and treasurer between 2011 and 2016.

Mr. Mollard has served as Lockheed's treasurer for five years and has been with the company for nearly four decades, the company said.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

August 03, 2021 18:08 ET (22:08 GMT)

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