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Lockheed Martin Corp on Friday fired its incoming Chief Executive Christopher Kubasik after he admitted to an improper relationship with a subordinate, and it appointed Marillyn Hewson to replace him. Kubasik, who was the defense contractor’s president and chief operating officer, had been slated to become CEO in January, replacing Bob Stevens. During a special session on Friday, the company’s board named Marillyn Hewson, 58, to replace Kubasik as president and chief operating officer immediately. She was also elected to succeed Stevens as CEO effective January 1, 2013. Stevens said he was “deeply disappointed and genuinely saddened” by what he [...]

Lockheed Martin Corp on Friday fired its incoming Chief Executive Christopher Kubasik after he admitted to an improper relationship with a subordinate, and it appointed Marillyn Hewson to replace him. Kubasik, 51, who was the defense contractor’s president and chief operating officer, had been slated to become CEO in January, replacing Bob Stevens. In a statement, Kubasik expressed remorse. “I remain confident in the future of the company. I regret that my conduct in this matter did not meet the standards to which I have always held myself,” Kubasik said. During a special session on Friday, the company’s board named [...]

SAN FRANCISCO Two Citi analysts — including senior Internet analyst Mark Mahaney — were fired from the brokerage over matters relating to the disclosures, according to a report in the Wall Street Journal on Friday morning. The terminations were reported as the Massachusetts Securities Division announced that it has imposed a $ 2 million fine against Citigroup for improperly disclosing non-public information related to Facebook Inc.’s initial public offering in May. In a consent order posted on the state government website, the Massachusetts agency said Citigroup “failed to prevent or detect the written disclosure of material, nonpublic research information in [...]

LONDON A senior banker, who says he was fired for being too successful, is taking his 12.5 million euro-plus ($ 16 million) lawsuit against France’s Societe Generale to the UK’s highest court in a case that could re-draft employment law. Raphael Geys, a Belgian national and a former managing director of SocGen’s European fixed income sales in London, is suing for breach of contract after France’s second-largest bank summarily fired him in 2007 without paying his full severance package. The case might not muster much public sympathy at a time of political and regulatory anger at rich banker rewards and [...]

Are you feeling picked on because you are older than your co-workers? Do you suspect you lost your job because you’re older — and because you made more money than younger workers? Age discrimination is a common complaint. A recent survey for AARP reported 64% of respondents thought that people older than 50 face age discrimination in the workplace. Some 34% said they had either personally faced age discrimination in the last four years or they know someone who has. The impact of age discrimination is more than just financial. “Older workers who think they are discriminated against are always [...]

LONDON State-controlled Royal Bank of Scotland confirmed on Friday it has dismissed a number of employees for misconduct as a result of its investigations into the Libor interest rate rigging scandal and, along with other banks, is still under investigation by regulators. “The Libor situation is on our agenda and is a stark reminder of the damage that individual wrongdoing and inadequate systems and controls can have in terms of financial and reputational impact,” Chief Executive Stephen Hester said in reporting first-half results. RBS said it was co-operating with investigations by governments and regulators into its submissions and procedures around [...]

Whether it’s the printer that jams every time you’re on deadline or the employee who messed up a project for the fourth time this month, there are many things in the workplace that can rile us to the point of exploding. But even if you’re at your boiling point, it’s best if you hold your tongue if you want to keep your job. A new study by CareerBuilder.com shows that 81% of employers believe cursing brings an employee’s professionalism into question. The study showed that 64% of employers think less of an employee who swears repeatedly, and 57% said they [...]