Lockheed announces CFO transition
By
Ross Wilkers
Lockheed Martin's longtime CFO Bruce Tanner will retire early next year and be succeeded by another three-decade company veteran in Kenneth Possenriede.
Lockheed Martin said Monday that Bruce Tanner, its chief financial officer for 12 years, will retire from the role and be succeeded by Kenneth Possenriede as CFO in a move to take effect Feb. 11, 2019.
Tanner will officially retire from the company during the middle of next year. He led the world’s largest defense company through several key initiatives during his tenure that included the spinoff and merger of its information systems and global solutions business into Leidos two years ago.
Bethesda, Maryland-based Lockheed acquired the helicopter maker Sikorsky in conjunction with the divestiture of IS&GS that saw several other government services companies as suitors for that business before Leidos emerged as the preferred bidder.
For the past two years, Possenriede was vice president of finance and program management for Lockheed’s aeronautics segment. Before that he was the corporation’s vice president and treasurer for five years.
Tanner is a 37-year company veteran, while Possenriede has worked at Lockheed for at least 30 years.