Summer Myatt
Jay Malave, a former L3Harris Technologies executive who is an aerospace and defense industry veteran, has been named chief financial officer at Lockheed Martin.
Malave’s career spans three decades and multiple senior-level financial roles in public and private sector organizations. Jim Taiclet, president and CEO of Lockheed and a 2022 Wash100 Award winner, said Tuesday the new CFO brings a “wealth of insight and expertise” to his new role and will perpetuate the company’s investment momentum.
“As we work to advance the capabilities that will serve our customers throughout the 21st century, Jay’s leadership will be instrumental to our continued growth and performance,” commented Taiclet.
Prior to joining Lockheed, Malave served as senior vice president and CFO at L3Harris, where he oversaw internal and external financial reporting, Securities and Exchange Commission compliance, investment relationships and other financial operations. In this capacity, Malave also developed strategic growth plans to support the execution and integration of mergers and acquisitions.
The executive also previously held the roles of VP and CFO for Carrier Corp., an operating unit of United Technologies Corp., where Malave spent over 20 years across positions including head of investor relations and diversity manager.
Commenting on his appointment, Malave said, “It is a privilege to lead such a highly regarded finance organization and advance the company’s vision to deter the threats of the future and connect domains for a more secure world.”
The new Lockheed CFO joins the company following the recent release of its fiscal year 2021 fourth quarter financial report, which showed a four percent increase in net sales at $17.7 billion.
Malave succeeds John Mollard, who acted as interim CFO and will continue with the company as vice president and treasurer.
