Jay Johnson to retire from General Dynamics

General Dynamics has
announced that Jay L. Johnson, chairman and chief executive officer, has advised
them of his intention to retire from those positions on December 31, 2012.

Johnson said, “When I accepted the board’s invitation to become CEO of General
Dynamics, my objectives were to extend the corporation’s history of excellent
performance, enhance the relevance of the products and services we deliver to
our customers and continue the development of a strong group of well-qualified
executives who would be ready to lead the company into a new era.”

“I have met those objectives – the company is on an excellent financial
footing, our operational performance is unmatched and our leadership team is
very robust. This is the right time to transition,” Johnson said.

“Jay has provided strong leadership, guidance and service to our board, the
corporation, its shareholders and the country. We are most grateful to him,”
James Crown, lead director of the board said.

The board of directors selected Phebe Novakovic to succeed Johnson as chairman
and chief executive officer on January 1, 2013. She became president and chief
operating officer in May 2012.

Crown said, “Phebe is a strong leader who has great depth of knowledge about
General Dynamics’ products, services, processes and customers. All of us on the
board are confident that she will continue General Dynamics’ legacy of highly
capable leadership and continue its high performance on behalf of customers,
employees and shareholders.”

General Dynamics are owners of Gulfstream Aerospace and Jet Aviation.