Once Phebe Novakovic takes the helm at GD and installs her own team, she will need to tackle the challenge of maintaining profitability in a company that derives three-quarters of its revenues from military sales during a period of declining defense outlays both at home and abroad.

FORBES: General Dynamics Begins 2013 With New Leader, Changing Business Mix

Despite recent setbacks, the company that Phebe Novakovic will take over on January 1 is better positioned for the future than many of its defense-industry peers because it generates a quarter of corporate revenues from the prestigious Gulfstream business-jet line, which does not depend on the Pentagon for sales.

FORBES: General Dynamics Begins 2013 With New Leader, Changing Business Mix