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2026 Virginia Power 50 List: PHEBE N. NOVAKOVIC
CHAIRMAN AND CEO, GENERAL DYNAMICS, RESTON
Virginia Business //March 1, 2026//
2026 Virginia Power 50 List: PHEBE N. NOVAKOVIC
CHAIRMAN AND CEO, GENERAL DYNAMICS, RESTON
Virginia Business //March 1, 2026//
Novakovic has led General Dynamics, one of the world’s largest aerospace and defense companies, since 2013. During her tenure, General Dynamics, with Newport News Shipbuilding as a subcontractor, won the Navy’s largest-ever shipbuilding contract, worth up to $24.2 billion, to build nuclear submarines.
The Fortune Global 500 company employs over 100,000 people and reported $47.7 billion in 2024 revenue, up 12.9% from 2023. Ranked No. 36 on Fortune’s 100 Most Powerful Women in business list in 2025, Novakovic is a graduate of Smith College and the University of Pennsylvania’s Wharton School.
The company and its subsidiaries, which include General Dynamics Information Technology, continue to win large contracts. In November 2025, its Electric Boat subsidiary won a $2.3 billion Columbia-class submarine contract from the Navy, and another unit, NASSCO, received a $1.7 billion contract to build Navy vessels. In January, General Dynamics’ stock rose 3% after President Donald Trump proposed a $1.5 trillion military budget.
A corporate director for JPMorgan Chase, Novakovic chairs the board of the Association of the United States Army.
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