9 November 2012 Last updated at 17:42 ET
US defence company Lockheed Martin says its incoming president and chief executive officer has resigned over a relationship with a subordinate.
Christopher Kubasik resigned after an internal ethics investigation confirmed the “close personal relationship”, the company said in a statement.
He was due to take over as head of the company next year after serving as its chief operating officer.
Another Lockheed executive, Marillyn Hewson, will now become CEO in January.
Chairman and outgoing CEO Robert Stevens said he was “deeply disappointed and saddened” by the relationship, which he described as “inconsistent with our values and standards”.
But he said the company had a “strong leadership team and a robust succession plan”.
Lockheed Martin is a defence and aerospace company based in Maryland that employs some 120,000 worldwide.
Its net sales for 2011 were $ 46.5bn (£29bn).
BBC News – Business
Lockheed boss resigns over affair
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Lockheed boss resigns over affair
