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Lockheed Martin Drops 3.16% on CFO Departure

Mover TrackerFriday, Apr 18, 2025 4:06 am ET

1min read

On April 18, 2025, Lockheed Martin's stock experienced a 3.16% drop in pre-market trading.

Lockheed Martin announced that its Chief Financial Officer, Jesus 'Jay' Malave, is stepping down and will be replaced by Evan Scott, a 26-year company veteran. Malave's departure comes after a tenure of just over three years, during which he navigated the company through regulatory challenges related to its acquisition plans for Aerojet Rocketdyne. The company has reaffirmed its 2025 earnings guidance, excluding the impact of fluctuating tariffs and recent announcements related to the "Next Generation Air Dominance" program.

Evan Scott, the new CFO, has a long history with Lockheed Martin, having served in various financial roles within the company. His appointment is seen as a strategic move to ensure continuity and stability during a period of significant changes in the defense industry. The company is set to release its first-quarter earnings on April 22, 2025, which will provide further insights into its financial performance and strategic direction.

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