Overview
- The board removed Christopher Kubasik and named Sam Mehta president and CEO after an independent investigation that found conduct inconsistent with the company’s code of conduct, a move announced on Monday.
- An SEC filing disclosed a separation agreement that gives Kubasik no severance or accelerated vesting of unvested awards while allowing him to keep and exercise certain vested options and existing shares.
- L3Harris said the conduct did not affect financial reporting, controls, customer relationships or operations and reaffirmed its full‑year 2026 guidance and its $3 billion solid‑rocket motor buildout.
- Investors reacted with a roughly 3–4% drop in L3Harris shares and some analyst concern, though several market observers said the company’s underlying businesses and strategy are likely to continue without disruption.
- Reporting by independent outlets cited anonymous sources saying the probe found an inappropriate relationship with an employee, a claim L3Harris has not confirmed and that echoes Kubasik’s 2012 exit from Lockheed after a similar ethics inquiry.