Larry Flynn Appointed Gulfstream President

Thursday, August 11, 2011 - 2:12pm

General Dynamics has announced that Larry Flynn will succeed Joe Lombardo as president of the company's
Gulfstream Aerospace subsidiary starting September 1. Flynn, 59, is currently Gulfstream's senior vice president of marketing and sales, a role he has held since 2008. Before that he had a seven-year stint as president of Gulfstream's product-support division. He joined the company in 1995 as vice president of aircraft services, bringing more than 25 years of aircraft service facility experience to the business jet manufacturer. Lombardo will retain his title of executive vice president of General Dynamics' aerospace group.

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Quote/Unquote

““CEOs go to their vacation homes just after companies report favorable news, and CEOs return to headquarters right before subsequent news is released. More good news is released when CEOs are back at work, and CEOs appear not to leave headquarters at all if a firm has adverse news to disclose. When CEOs are away from the office, stock prices behave quietly with sharply lower volatility. Volatility increases immediately when CEOs return to work.” —David Yermack, a New York University finance professor, whose recently released study shows a correlation between when CEOs take their private jets on vacation and movements in their companies’ stock price ”

-David Yermack