General Dynamics names Novakovic president and COO
FALLS CHURCH, Va.—General Dynamics is promoting the head of its marine unit to the newly-created positions of president and chief operating officer, the company said Thursday.
Phebe Novakovic, 54, will assume the roles on May 2 and will report to chairman and CEO Jay Johnson, 65, the aerospace and defense contractor said.
Her promotion reshuffles the structure of General Dynamics' executive suite. The company currently has four executive vice presidents, including Novakovic -- one for each of its main businesses. There currently is no company-wide president or COO, according to its website.
In her new position, Novakovic will help oversee and manage the company's four business groups and its headquarters operations, Johnson said in a statement. He said she is "more than ready to assume a larger role in the corporation."
Novakovic has been executive vice president of marine systems since May 2010. She is responsible for three companies that produce and maintain submarines and military and commercial ships. Previously, she had been senior vice president overseeing communications and government and investor relations.
General Dynamics, based in Falls Church, Va., provides aviation technology, weapons and combat systems, ships and marine systems and information technology for companies and governments.
The company's stock rose 82 cents, or 1.2 percent, to $72.07 in the final hour of trading.