General Dynamics has announced CEO Nicholas Chabraja will stand down as CEO next year, inline with his employment contract.

Chabraja will remain as chairman until May 2010.

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He has been CEO since 1997.

He will be replaced by Jay Johnson, current CEO and Executive Vice-President of Dominion Virginia Power on 1 July 2009.

Prior to assuming the role as CEO, Johnson will serve as Vice-Chairman from 2 September.

By staff writer

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