May 5, 2010 3:01 PM
FALLS CHURCH, Va., -The board of directors of General Dynamics (NYSE: GD) today unanimously elected Jay L. Johnson as its chairman. Effective immediately, Johnson will serve as chairman and chief executive officer of the corporation. Johnson succeeds Nicholas D. Chabraja, who has served as chairman since 1997.
Johnson has been president and chief executive officer of General Dynamics since July 1, 2009. He had been vice chairman of the board since September 2008, when he joined the company as part of a board-approved succession plan in preparation for Chabraja's retirement as chief executive. Johnson has been a member of the General Dynamics board since 2003, while he was an executive of Dominion Virginia Power and Dominion Resources, Inc.
Chabraja, who will remain on the General Dynamics board of directors, joined the company in January 1993 as senior vice president and general counsel. He became executive vice president and joined the board of directors in 1994, before serving first as vice chairman and then chairman and chief executive officer from June 1997 until retiring as chief executive officer in June 2009.
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