As part of a continuing reorganization, Cubic Corp. on Thursday announced that Robert Newmark will serve as vice president of its troubled defense systems division.
Newmark, a 15-year defense industry simulation veteran, replaced Ralph Davis, division vice president, who resigned earlier this year.
A poor performance by the defense systems division forced Cubic to report a $3-million net loss for the third quarter ended June 30, the second quarterly loss in Cubic's 37-year history. Chief Executive Walter Zable said the division's problems forced Cubic to "bite the bullet."
Earlier this year San Diego-based Cubic established a $4-million reserve to offset "technical problems" in the defense systems division that caused delays in delivering flight training systems for the U.S. Air Force and Boeing.
Before joining Cubic last week, Newmark served as vice president of armament systems for Emerson Electric in St. Louis.