L3Harris removes CEO Kubasik after board finds conduct breach, appoints Mehta

L3Harris Technologies announced that Chairman and CEO Christopher Kubasik has left the company after a board-led investigation determined his behavior conflicted with the defense contractor’s code of conduct, prompting a 3% drop in the stock price during morning trade. Kubasik’s departure is unrelated to the firm’s financial reporting, internal controls, customer relationships or operational performance, and he will receive no severance, benefits, or equity awards, though he may retain and exercise certain previously vested stock options.

Sam Mehta, who joined L3Harris in 2023 and previously ran its Space & Mission Systems and Communications & Spectrum Dominance segments that generate roughly 80% of revenue, was installed as chief executive effective immediately. The board also named Lewis Hay III as independent chairman and reiterated its 2026 earnings guidance. Earlier, L3Harris had completed the $4.7 billion Aerojet Rocketdyne acquisition and announced a missile-solutions spin-off, which the Pentagon will partially own, but the spin-off has been postponed until at least mid-2027. Kubasik, who helped orchestrate the 2019 L3-Harris merger and served as president and COO before becoming CEO in 2021, previously left Lockheed Martin after an improper relationship with a subordinate was disclosed.