BETHESDA, Md. (Reuters) -- Aerospace and defense giant Lockheed Martin Corp. said on Thursday its President and Chief Operating Officer Louis Hughes will leave the company effective October 31, just six months after he left his post at General Motors Corp. to join Lockheed.
Hughes, who was hired on April 27, cited personal reasons for his departure and said that being separated from his family for extended periods of time made "devoting full energy" to both his "corporate and family commitments" difficult.
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"This is a disappointment and Lou will be missed," Lockheed's Chairman and Chief Executive Vance Coffman said. "I've come to understand his personal situation and I respect and agree with this outcome."
Robert Stevens, Lockheed's executive vice president and chief financial officer, will succeed Hughes, assuming the title of president and COO and continuing as CFO until a permanent replacement is found. Stevens was also elected as a board director.
"The last six months at Lockheed Martin have been one of the most fascinating and stimulating periods of my 34-year career in business," Hughes added.
"While very rewarding professionally, the position of president has necessitated that I be separated from my family in Chicago for extended periods of time," he said. "After consultation with Vance regarding the difficulty of devoting full energy to both my corporate and family commitments, we have mutually agreed that I will step down as president."
Prior to becoming CFO in October 1999, Stevens served in a number of positions at Lockheed, including vice president for strategic development, president and COO of the former Lockheed Martin Energy and Environment Sector and president of Lockheed Martin Air Traffic Management.
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