Lockheed Martin [LMT] on Thursday announced the abrupt departure of Jay Malave as the company’s chief financial officer (CFO) and named Evan Scott as his successor, effective immediately.
Malave, who joined the company as CFO in January 2022, told the company he was “going to pursue other opportunities,” Lockheed Martin said.
There was no “financial or accounting issue or any disagreement with the company on any matter related to the company’s operations, policies or practices,” a Lockheed Martin spokesperson told Defense Daily
. “This was a personal decision.”
Lockheed Martin’s press release announcing the CFO change did not thank Malave for his service nor wish him well in his future pursuits.
The company next Tuesday will report first quarter 2025 financial results and said it will reaffirm its prior guidance for the year, “exclusive of the evolving impacts of tariffs and the recent Next Generation Air Dominance announcement.”
The Air Force in March awarded Boeing [BA] the engineering and development contract for the manned NGAD F-47 fighter (Defense Daily, March 21).
Scott, 48, a 26-year veteran of Lockheed Martin, most recently served as CFO of the Missiles and Fire Control operating segment since Jan. 1, 2024, and before that as treasurer from June 2022 through December 2023, and previously as vice president of finance and business operations of the Space segment from March 2019 to August 2021.
“Over his 26 years at Lockheed Martin, Evan has earned the utmost respect as an experienced finance and operations leader, with deep understanding of our business and mission,” Jim Taiclet, chairman, president and CEO, said in a statement.
Malave joined Lockheed Martin from L3Harris Technologies [LHX] where he also was CFO for nearly three years. Before L3Harris, for years he served in various financial positions at the former United Technologies Corp. and its operating segments.