General Dynamics Moves to Fix Troubled IT Division

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Defense contracting giant General Dynamics (NYSE: GD  ) shook up its executive ranks Thursday, announcing that:

  • Executive Vice President and Executive of the company's Combat Systems Group David K. Heebner is shifting over to become Executive of GD's Information Systems and Technology Group instead
  • General Dynamics Land Systems President Mark C. Roualet has taken his place
  • Senior Vice President and General Manager for General Dynamics Land Systems' domestic operations Gary L. Whited has, in turn, been promoted to President of GDLS

All three changes are effective immediately. All were initiated in response to last month's news that GD's IST head, Gerard J. DeMuro, had decided to leave the company in the wake of a Q4 report that showed ill-considered acquisitions in the division had cost the company $2 billion in goodwill writedowns, and pushed the entire company into a loss.

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9/26/2016 4:01 PM
GD $153.87 Up +0.06 +0.04%
General Dynamics CAPS Rating: ****