Lockheed Martin CFO Possenriede to retire, effective immediately

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Lockheed Martin Corp.
LMT,
+0.31%
late Tuesday said Chief Financial Officer Kenneth R. Possenriede will retire immediately due to personal reasons. John W. Mollard, vice president and treasurer, has been appointed acting CFO, also effective immediately, the aerospace and defense company said. Mollard has been with Lockheed Martin for four decades, including the past five years as the corporate treasurer. The company did not detail a hiring search for a permanent CFO. Shares of Lockheed Martin fell 0.5% in the extended session Tuesday after ending the regular trading day up 0.3%.

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