Phebe Novakovic

Phebe Novakovic

Novakovic at General Dynamics, 2023

Personal details
Born	Phebe N. Novakovic 1957/1/1 (age 69) 🇺🇸 United States
Nationality	🇺🇸 American
Citizenship	🇺🇸 United States
Residence	🇺🇸 Washington, D.C. metropolitan area, United States
Languages	🇺🇸 English
Education	Smith College (BA, 1979) Wharton School, University of Pennsylvania (MBA, 1988)
Spouse	David Vickers (first husband, divorced) Second husband (name private)
Children	Information private
Parents	Father (U.S. Air Force officer)
Career details
Occupation	Business Executive, Defense Industry Leader, Former CIA Officer
Years active	1979-present
Employer	General Dynamics Corporation
Title	Chairman and Chief Executive Officer
Term	January 2013 - present
Predecessor	Jay L. Johnson
Compensation	US$21.8 million (2023)
Net worth	Template:Increase US$150 million (December 2024)
Board member of	General Dynamics Corporation (Chairman) JPMorgan Chase & Co.
Awards	• Fortune Most Powerful Women (annually) • Forbes 29th Most Powerful Woman • Defense industry leadership awards
Website	gd.com/our-company/biographies

Phebe N. Novakovic (born c. 1957) is an American business executive and former Central Intelligence Agency operations officer who serves as chairman and chief executive officer of General Dynamics Corporation, one of the world's largest aerospace and defense contractors. She has led General Dynamics since January 2013, overseeing a company with over $42 billion in annual revenue and 100,000+ employees.

Before her corporate career, Novakovic worked for the Central Intelligence Agency (CIA) as an operations officer and later served in senior positions at the United States Department of Defense and Office of Management and Budget. She is of Serbian descent and is known for her intensely private nature and disciplined approach to capital allocation, which has delivered strong shareholder returns during her tenure.

Early life

Background

Phebe Novakovic was born circa 1957 in the United States. She grew up as the daughter of a United States Air Force officer, giving her early exposure to the military environment that would later define her career.

Novakovic is of Serbian descent, maintaining connection to her Eastern European heritage.

Education

Smith College (1975-1979): Novakovic earned her Bachelor of Arts degree from Smith College in Northampton, Massachusetts in 1979. Smith College is one of the premier women's liberal arts colleges in the United States.

Wharton School MBA (1986-1988): After her CIA career, Novakovic attended the Wharton School of the University of Pennsylvania, earning her MBA in 1988. She attended Wharton alongside David Vickers, whom she had met at the CIA and later married.

Career

Central Intelligence Agency (1983-1986)

In 1983, Novakovic joined the Central Intelligence Agency as an operations officer. Her company biography confirms her CIA service, though like any good intelligence operative, she does not discuss her specific activities or assignments.

At the CIA, Novakovic:

• Met David Vickers, who taught her to skydive and whom she later married
• Developed skills in operations, analysis, and working in high-stakes environments
• Built relationships that would later benefit her in the defense industry

In 1986, she left the CIA to attend business school at Wharton.

Office of Management and Budget

After earning her MBA, Novakovic worked at the Office of Management and Budget (OMB) as Deputy Associate Director, gaining experience in federal budgeting and government operations.

Department of Defense (1997-2001)

From 1997 to 2001, Novakovic served as Special Assistant to the Secretary and Deputy Secretary of Defense, working under Secretaries William Cohen (Clinton administration) and Donald Rumsfeld (early Bush administration).

This role gave her:

• Deep understanding of defense procurement and strategy
• Relationships with military leadership
• Insight into defense contractor operations
• Experience in government-industry interface

General Dynamics (2001-present)

Vice President and early roles (2001-2005)

Novakovic joined General Dynamics in 2001 as a Vice President, bringing her government and intelligence experience to the private sector.

SVP Planning and Development (2005-2010)

From 2005 to 2010, she served as Senior Vice President of Planning and Development, overseeing corporate strategy and business development.

EVP Marine Systems (2010-2012)

From 2010 to 2012, Novakovic was Executive Vice President of Marine Systems, leading General Dynamics' submarine and surface ship building operations, including Bath Iron Works and Electric Boat.

President and COO (2012)

In 2012, she was named President and Chief Operating Officer, positioning her as the successor to CEO Jay L. Johnson.

Chairman and CEO (2013-present)

Novakovic became CEO of General Dynamics in January 2013 and was also elected Chairman of the Board.

Leadership philosophy:

Novakovic is known for:

• Disciplined capital allocation: Returning cash to shareholders through dividends and buybacks
• Operational excellence: Focus on program execution and cost control
• Strategic acquisitions: Targeted acquisitions that expand capabilities
• Intense privacy: "Shuns the spotlight" according to profiles

Major programs under Novakovic:

• Columbia-class submarines: Next-generation ballistic missile submarines
• Virginia-class submarines: Advanced attack submarines
• Gulfstream jets: Business aviation leadership
• Stryker vehicles: Army combat vehicles
• Abrams tanks: Main battle tank upgrades

Key acquisitions:

• CSRA Inc. (2018) - $9.7 billion IT services acquisition
• Mission-critical IT and cybersecurity capabilities expansion

Financial performance: Under Novakovic's leadership, General Dynamics has delivered:

• Consistent revenue growth
• Strong operating margins
• Regular dividend increases
• Share buyback programs
• Total shareholder returns exceeding peers

Personal life

Marriage

Novakovic met her first husband, David Vickers, while both were working at the CIA. Vickers taught her to skydive. They both attended Wharton together for their MBAs, and later divorced.

She has remarried, but maintains privacy about her personal life.

Personality

Colleagues and board members universally note her CIA background when describing her. Novakovic is known for her intense privacy and disciplined approach - qualities developed during her intelligence career.

Board memberships

Corporate boards:

• General Dynamics Corporation - Chairman
• JPMorgan Chase & Co. - Board of Directors

Non-profit affiliations:

• Marine Corps Scholarship Foundation - Board
• Aerospace Industries Association - Member

Recognition

• Fortune "Most Powerful Women" (annually)
• Forbes "World's Most Powerful Women" - #29
• Fortune "Most Powerful People in Business" (2024)

See also

• General Dynamics
• Central Intelligence Agency
• Defense industry
• Gulfstream Aerospace

External links

• Official General Dynamics Biography
• Bloomberg Profile