Federal Contractors | Technology 2023: PHEBE N. NOVAKOVIC

Since 2013, Novakovic has led the world’s sixth largest aerospace and defense company, with 105,000 employees worldwide and revenue of $39.4 billion in fiscal 2022.

Ranked No. 30 on Forbes’ 2022 World’s 100 Most Powerful Women list, she is a Smith College and University of Pennsylvania Wharton School graduate and is one of the highest paid executives in Virginia, receiving $23.5 million in 2021.

Novakovic previously worked for the CIA, the federal Office of Management and Budget, and two deputy defense secretaries during the Clinton administration. In 2001, she joined General Dynamics, and under her leadership, the corporation won the Navy’s largest-ever contract, $24.2 billion, to build nuclear submarines.

She serves on several boards, including the Northwestern University board of trustees, the Center for Strategic and International Studies board of trustees, the National Military Family Association board and the Northwestern Memorial Hospital board. She also is chairman of the Association of the United States Army and a member of Ford’s Theatre’s executive chairman’s circle.

General Dynamics, founded in 1952, had first quarter 2023 net earnings of $730 million on revenue of $9.9 billion, up 5.2% year over year.