General Dynamics appoints new CEO, shares drop 1.42%

By Tamara Parker • Thursday, October 08 10:50 • Permanent Link

General Dynamics said its board has elected Danny Deep, currently president, to become chief executive officer effective Jan. 1, 2027, replacing Phebe Novakovic, who will move to executive chairman.

The leadership change comes after Novakovic has served as CEO since 2013, a 14-year run that will end at year-end 2026. Deep has been with the company for 25 years and has moved through a series of operating roles, including executive vice president of Global Operations, executive vice president of Combat Systems, and president of Land Systems before becoming president of the company in 2025.

The company said it employed more than 120,000 people worldwide and generated $52.6 billion in revenue in 2025. The market has reacted to these announcements by moving the company's shares -1.42% to a price of $326.63. If you want to know more, read the company's complete 8-K report here.

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