L3Harris Technologies dismissed CEO Christopher Kubasik for violating the code of conduct following an investigation by its board. Sam Mehta was appointed as his successor effective immediately.
L3Harris Technologies announced the dismissal of Chairman and CEO Christopher Kubasik after a board investigation determined that he had violated the code of conduct. The move marks a turning point for the strategy of pursuing major acquisitions and expanding its rocket motor business.
Sam Mehta was appointed president and CEO effective immediately. Louis Hay III, previously the lead independent director, became independent chair of the board. Mehta has more than 25 years of experience in the aerospace and defense sectors and had overseen strategy and finance for the company’s 2 major segments.
The share price fell as much as 3.4% after the market opened before narrowing its losses. L3Harris indicated that it would maintain its full-year outlook, and the exchange suggested that the appointments did not indicate deterioration in the company’s operations or financial position.
The company has postponed until at least mid-2027 the planned spin-off of its Missile Solutions segment, which it announced in January. Execution risk from the management changes and strategic uncertainty are now the market’s focus.