Lockheed Martin Names Jay Malave as Chief Financial Officer

Rhea-AI Summary

Lockheed Martin (NYSE: LMT) has appointed Jesus "Jay" Malave as the new chief financial officer, effective immediately. Malave, with over 20 years at United Technologies Corporation and prior roles at L3Harris and Carrier Corporation, brings significant industry expertise. Chairman James Taiclet emphasized Malave's leadership will be vital for the company’s growth amid evolving global challenges. Malave acknowledged Lockheed Martin's robust financial standing and the opportunities it presents. John Mollard remains as vice president and treasurer after serving as interim CFO.

Positive

• Appointment of Jay Malave as CFO, enhancing leadership team with industry experience.
• Malave's background in aerospace and defense aligns with Lockheed Martin's goals.
• Strong balance sheet allows for growth opportunities.

Negative

• None.

BETHESDA, Md., Feb. 1, 2022 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) announced today that Jesus "Jay" Malave will be the company's next chief financial officer, effective immediately.

Malave most recently held the positions of senior vice president and CFO for L3Harris. Prior to that, he served as vice president and CFO of Carrier Corporation, an operating unit of United Technologies Corporation (UTC). During his more than 20 years at UTC, Jay also served as vice president and CFO of UTC Aerospace Systems and head of Investor Relations.

"As we work to advance the capabilities that will serve our customers throughout the 21st century, Jay's leadership will be instrumental to our continued growth and performance," said Lockheed Martin Chairman, President and CEO James Taiclet. "He brings a wealth of insight and expertise about our industry and customers as we chart the course ahead for success."

"Lockheed Martin's strong balance sheet and enviable position as the aerospace and defense leader provides tremendous opportunities ahead to the benefit of our customers, shareholders, employees, and taxpayers," said Malave. "It is a privilege to lead such a highly regarded finance organization and advance the company's vision to deter the threats of the future and connect domains for a more secure world."

John Mollard, who served as acting CFO on an interim basis, will continue as vice president and treasurer.

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 114,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

Please follow @LMNews on Twitter for the latest announcements and news across the company.

 

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SOURCE Lockheed Martin

FAQ

Who is the new CFO of Lockheed Martin as of February 1, 2022?

Jesus 'Jay' Malave is appointed as the new CFO of Lockheed Martin effective February 1, 2022.

What is Jay Malave's previous experience before joining Lockheed Martin?

Jay Malave previously served as CFO at L3Harris and Carrier Corporation, with over 20 years at United Technologies Corporation.

What did Lockheed Martin's CEO say about Jay Malave's appointment?

CEO James Taiclet mentioned that Malave's leadership will be instrumental for the company's growth and performance.

What role will John Mollard continue to serve after Jay Malave's appointment?

John Mollard will continue as vice president and treasurer after serving as acting CFO.