Phebe Novakovic

Phebe Nevenka Novakovic
Born	Phebe Nevenka Novakovic November 1957
Nationality	American
Occupation	Business executive, former intelligence officer
Title	Chairman and Chief Executive Officer, General Dynamics
Known for	Chairman and CEO of General Dynamics
Education	University of Pennsylvania (MBA)
Spouse(s)	David Morrison
Children	3
Awards	Smith College Medal (2016), Fortune Most Powerful Women, Forbes Most Powerful Women
Website	[https://www.gd.com/ Official site]

Phebe Nevenka Novakovic (born November 1957) is an American businesswoman, former intelligence officer, and the chairman and chief executive officer of General Dynamics, one of the largest defense contractors in the world. She assumed the role of CEO in January 2013, becoming one of the few women to lead a major American defense corporation. Under her leadership, General Dynamics has grown into a corporation with a market capitalization exceeding $94 billion and a record backlog surpassing $100 billion, encompassing operations in aerospace, marine systems, combat systems, and information technology. Before entering the private sector, Novakovic served as an officer in the Central Intelligence Agency and held senior positions at the United States Department of Defense, including serving as a special assistant to the Secretary and Deputy Secretary of Defense. She has been recognized consistently among the most powerful women in global business, ranked on both FortuneTemplate:'s Most Powerful Women list and ForbesTemplate:'s list of the world's most powerful women for multiple years. In 2025, she was selected as the chair of the Aerospace Industries Association's 2026 board of governors.

Early Life

Phebe Nevenka Novakovic was born in November 1957. Her middle name, Nevenka, reflects her Serbian heritage, a background that has been noted in various profiles of her career. Details about her parents and early upbringing remain largely outside the public record, though her subsequent career trajectory—moving from government intelligence work to the highest levels of American corporate leadership—suggests formative experiences shaped by a strong orientation toward public service and national security.

Before entering the corporate world, Novakovic began her professional career in the intelligence community, serving as an officer in the Central Intelligence Agency. Her work at the CIA provided her with experience in the national security apparatus of the United States, knowledge that would prove instrumental throughout her later career in the defense industry. Following her time at the CIA, she transitioned to the United States Department of Defense, where she served in several senior roles, including as a special assistant to the Secretary and Deputy Secretary of Defense. This combination of intelligence and defense policy experience gave Novakovic an unusually deep understanding of the U.S. government's defense procurement processes, strategic priorities, and operational needs—expertise that would distinguish her from many of her corporate peers in the defense industry.

Education

Novakovic received her undergraduate degree from Smith College, a private women's liberal arts college in Northampton, Massachusetts. She subsequently earned a Master of Business Administration (MBA) from the Wharton School at the University of Pennsylvania, one of the most selective business schools in the United States. Her educational background combined a liberal arts foundation with advanced business training, a combination that she later applied across roles spanning government, intelligence, and corporate leadership. In 2016, Smith College recognized Novakovic's achievements by awarding her the Smith College Medal, one of the institution's highest honors for alumnae who have made significant contributions in their professional fields.

Career

Government Service and Intelligence

Novakovic's professional career began in public service. She served as an officer in the Central Intelligence Agency, where she gained experience in the national security and intelligence fields. The duration and specific nature of her work at the CIA have not been extensively detailed in public reporting, consistent with the classified nature of much intelligence work. She subsequently moved to the Department of Defense, where she held senior advisory positions, including serving as a special assistant to the Secretary and Deputy Secretary of Defense.

These roles placed Novakovic at the nexus of defense policy, national security strategy, and the acquisition processes that govern how the U.S. military equips itself. Her government career provided her with firsthand knowledge of the Department of Defense's priorities, budgeting cycles, and procurement systems—experience that would later prove directly relevant when she transitioned to the private sector and eventually rose to lead one of the Pentagon's largest contractors.

General Dynamics: Rise to Leadership

Novakovic joined General Dynamics and rose steadily through the company's ranks. She served in a variety of senior roles within the organization, developing expertise across its diverse business segments. Her background in government and intelligence, combined with the MBA she earned from the Wharton School, gave her an unusual profile among defense industry executives—one that combined operational knowledge of government customers with sophisticated business acumen.

Prior to becoming CEO, Novakovic served as executive vice president of the Marine Systems group and in other senior leadership positions within the company. Her ascent through General Dynamics' corporate hierarchy reflected the company's recognition of both her management capabilities and her deep understanding of the defense market.

Appointment as Chairman and CEO

In January 2013, Novakovic was appointed chief executive officer of General Dynamics, and she subsequently assumed the additional role of chairman of the board. Her appointment made her one of the few women to lead a major U.S. defense contractor, a distinction that brought considerable public attention. At the time of her appointment, General Dynamics was one of the five largest defense companies in the United States, with operations spanning aerospace (including Gulfstream Aerospace, a manufacturer of business jets), marine systems (including the construction of nuclear submarines), combat systems (armored vehicles and weapons systems), and information technology and mission systems.

From the outset of her tenure, Novakovic emphasized operational discipline, cost control, and a return to strong financial performance. Her leadership style has been characterized by directness and an insistence on accountability across the company's business units.

Corporate Performance Under Novakovic

Under Novakovic's leadership, General Dynamics experienced sustained growth in revenue, backlog, and market capitalization. By the second quarter of 2025, the company reported revenue growth of 8.9 percent and reached a record backlog of $103.7 billion, with a total estimated contract value of $161.2 billion. In the third quarter of 2025, the company generated nearly $13 billion in revenue, including approximately $4 billion from its shipbuilding operations. The company's market capitalization grew to approximately $94.54 billion by late 2025.

The company's third-quarter 2025 results exceeded analyst expectations, prompting a surge in General Dynamics' stock price. This performance was driven in part by strong demand across the defense portfolio, including the company's marine systems and combat systems divisions, as well as continued demand for Gulfstream business jets.

Major Defense Programs

One of the most significant defense programs overseen by Novakovic has been the Columbia-class submarine program, the U.S. Navy's next-generation nuclear ballistic missile submarine designed to replace the aging Ohio-class fleet. As of October 2025, the first boat in the class, the District of Columbia (SSBN-826), was more than 60 percent complete, with major modules due to arrive for final assembly. Novakovic described the coming year as "pivotal" for the program during the company's third-quarter 2025 earnings call.

The Columbia-class program represents one of the most expensive and strategically important shipbuilding efforts in the history of the U.S. Navy, and its progress has been a central focus of Novakovic's communications with investors, Congress, and the Department of Defense. General Dynamics' Electric Boat division, a subsidiary that has built submarines for the U.S. Navy for more than a century, is the prime contractor on the program. Novakovic has spoken extensively about the challenges facing the submarine industrial base, including workforce development and supply chain constraints.

In addition to the Columbia-class program, General Dynamics under Novakovic's leadership has been involved in the production of Virginia-class submarines, Stryker armored vehicles, and other major defense platforms.

Navigating Policy and Economic Challenges

Novakovic has led General Dynamics through periods of significant policy and economic uncertainty. In October 2025, she warned publicly about the potential effects of a government shutdown on defense contractors and the broader defense industrial base, noting the disruption such events cause to procurement timelines and contract execution.

In April 2025, when asked about the potential impact of tariffs proposed by the Trump administration on General Dynamics' operations and costs, Novakovic declined to speculate, stating that with the level of uncertainty surrounding trade policy, any estimate would be unreliable. This response was characteristic of Novakovic's communication style, which has been marked by precision and a reluctance to engage in speculation about uncertain policy outcomes.

Aerospace Industries Association Board Chair

In December 2025, the Aerospace Industries Association (AIA) announced that Novakovic had been selected as the chair of its 2026 board of governors, succeeding L3Harris Technologies CEO Christopher Kubasik. The AIA is the principal trade association representing major aerospace and defense manufacturers in the United States. The appointment to chair the AIA board reflects Novakovic's stature within the defense and aerospace industry and her role as a leading voice on issues affecting the sector, including defense spending, industrial base capacity, and workforce development.

Personal Life

Novakovic is married to David Morrison, and the couple has three children. She has maintained a relatively private personal life compared to many other Fortune 500 CEOs, and details about her family and personal interests are not extensively documented in public sources.

In a 2021 profile published by The Wall Street Journal, Novakovic discussed her beliefs in patriotism and resilience, themes that have informed both her government career and her leadership of General Dynamics. Her Serbian heritage, reflected in her middle name Nevenka, has been noted in various media profiles.

Recognition

Novakovic has received extensive recognition for her leadership of General Dynamics and her status as one of the most prominent female executives in American industry.

She has been a consistent presence on Fortune magazine's annual list of the Most Powerful Women in business. In 2023, she was ranked 21st on that list. In 2025, she again returned to the Fortune 100 Most Powerful Women list, one of three Virginia-based defense company CEOs to be included.

Forbes has also recognized Novakovic among the world's most powerful women. In 2023, she was listed as the 29th most powerful woman in the world on the Forbes Power Women list. In 2018, she appeared on Forbes' list of the world's most powerful women in business.

In 2016, Novakovic was awarded the Smith College Medal by her undergraduate alma mater, an honor given to alumnae whose lives and work exemplify the purpose of a liberal arts education.

Her appointment as chair of the Aerospace Industries Association's 2026 board of governors further underscored her standing within the defense and aerospace industry.

Legacy

Novakovic's tenure as chairman and CEO of General Dynamics, spanning more than a decade as of 2025, has placed her among the longest-serving and most consequential leaders in the modern history of the American defense industry. Under her stewardship, General Dynamics grew to a company with a market capitalization approaching $95 billion and a record backlog exceeding $100 billion, positioning it as one of the most financially robust defense contractors in the world.

Her leadership of major programs, most notably the Columbia-class submarine program, has had direct implications for U.S. national security strategy. The Columbia class is designed to serve as the sea-based leg of the U.S. nuclear triad for decades to come, and the program's execution under Novakovic's oversight represents a defining element of her corporate legacy.

As one of the few women to lead a major defense corporation, Novakovic's career has served as a reference point in discussions about gender representation in the defense industry and in corporate America more broadly. Her path from the Central Intelligence Agency to the Pentagon to the helm of a Fortune 100 defense company is unusual in its breadth, combining intelligence, policy, and business leadership in a single career arc.

Novakovic's management approach, characterized by operational discipline, financial rigor, and a direct communication style, has been noted by analysts and journalists covering the defense industry. Her reluctance to engage in public speculation—demonstrated, for example, by her refusal to estimate tariff impacts during a period of trade policy uncertainty—has been described as reflective of a broader philosophy that prioritizes precision and caution in corporate communications.