NATIONWIDE -- The President and COO of Lockheed Martin has resigned following an ethics investigation. Christopher Kubasik, 51, was also in line to become the company CEO in January.

However, in a release on the company website, Lockheed says Kubasik resigned after an investigation confirmed he has a close personal relationship with a subordinate employee. They said his actions violated the company's Code of Ethics and Business Conduct, but did not affect the company's operational or financial performance.

Effective immediately, Lockheed's Board of Directors elected Marillyn Hewson, 58, as the new president and COO. She will also take on the role of CEO beginning January 1. Hewson has been with the company since 1983.