Lockheed Martin Corp. has ousted itspresident and future CEO over a relationship with a subordinate.
The defense company said Friday that its board of directorsasked for and received the resignation of Christopher Kubasik from his role asvice chairman, president and chief operating officer.
Kubasik, 51, was scheduled to become CEO in January.
Lockheed Martin says an ethics investigation confirmed thathe had a close personal relationship with a subordinate employee. That violatesthe company's code of ethics and business conduct.
"I regret that my conduct in this matter did not meetthe standards to which I have always held myself," Kubasik said in astatement.
Kubasik said that his departure in no way reflects on thestrength of Lockheed Martin and he remains confident in the future of thecompany, where he had worked for the past 13 years.
Kubasik joins a roster of high-ranking executives who haveexited their posts in recent years over the fallout from ill-advisedrelationships.
Among them, former Best Buy CEO Brian Dunn, who resignedfrom the retailer in April after an investigation found he violated companypolicy by having an inappropriate relationship with a female employee.
In other cases allegations of improper behavior supported bya paper trail of questionable spending have provided enough fuel to drive topmanagement out of the executive suite.
Mark Hurd resigned from his post as CEO of Hewlett-PackardCo. in 2010, a few weeks after the company launched a probe into allegationsthat he sexually harassed a former marketing contractor.
The investigation uncovered no merits to the claims, howeverit was discovered through the course of the probe that Hurd falsified somereports to disguise expenses he incurred for meals and travel with the woman.
Meanwhile, news broke Friday that CIA Director DavidPetraeus had resigned over an extramarital affair.
According to a statement he sent to CIA employees, Petraeusasked President Barack Obama on Thursday to allow him to resign and on Fridaythe president accepted it. Petraeus said he had shown "extremely poorjudgment" in having the affair.
"Such behavior is unacceptable, both as a husband andas the leader of an organization such as ours," Petraeus said.
William Sannwald, a professor of business ethics at SanDiego State University, said there's no easy way to explain why executivescontinue to be ensnared in these sorts of ethical lapses.
"It just happens, and perhaps it's the power that comeswith the position that makes them feel that they can be above scrutiny,"he said.
As for Kubasik, his choice to get involved with asubordinate clearly reflects on more than just his personal life, Sannwaldsaid.
"It's poor judgment on his part," Sannwald said."And probably Lockheed might be better off that he didn't take theposition, if he exhibits that kind of poor judgment in his own personal relationships."
Lockheed Martin's board elected the executive vice presidentof its electronics systems business to take Kubasik's role.
Marillyn A. Hewson, 58, will be president, chief operatingofficer and a director. She takes over as CEO in January. Hewson joined thecompany in 1983.
She will also keep her current role in the electronicssystems business until the end of this year.
Lockheed Martin said that the company's operational orfinancial performance has not been affected by the matter.
"While I am deeply disappointed and saddened by Chris'actions, which have been inconsistent with our values and standards, our swiftresponse to his improper conduct demonstrates our unyielding commitment toholding every employee accountable for their actions," Robert J. Stevens,chairman and CEO said in a statement.
Lockheed Martin's board also elected Stevens to serve asexecutive chairman beginning at the start of the year.
Lockheed Martin shares rose 6 cents to close at $89.98 onFriday.