Fired Navy Secretary Richard Spencer Now Set To Lead Cash-Poor Austal [Forbes]
Lockheed Martin Corporation (LMT)
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Source: Forbes
and “non-executive” chairman, the troubled Navy shipbuilder announced Rothwell's “ ” to serve as a “non-executive” member of Austal's small, six-person board. Rothwell's pick for the newly-vacant board chairmanship is former U.S. Navy Secretary, Richard Spencer. For this Austal shareholder, Spencer is a perplexing pick for Austal. Lacking strong political backing on either side of the aisle, Spencer, as Navy Secretary, was regularly seen in this column as one of his major Secretarial responsibilities, the business case for the troubled $13.3 billion USS Gerald R. Ford (CVN-78) class aircraft carrier, failed to meet expectations. In a sign the Secretary's business acumen was a tad breezy, Spencer struggled to align his public statements with Spencer's big claim to fame in office rests in making an with President Donald J. Trump in late 2018. After hearing Trump was irritated about the non-functional elevators aboard the behind-schedule supercarrier, according to , Spencer put his s
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