Overview
- The board announced Monday that it concluded an investigation found conduct by Christopher Kubasik inconsistent with L3Harris’s code of conduct and that the company entered a separation agreement with him.
- Sam Mehta, who led the company’s Space & Mission Systems and Communications businesses, was elevated to president and chief executive and will join the board while Lewis Hay III was named independent chairman.
- An SEC filing shows Kubasik will receive no severance or accelerated vesting of unvested awards but may retain and exercise certain previously vested stock options, and the filing states he disputes grounds for a for‑cause termination.
- L3Harris reaffirmed its full 2026 financial guidance and its strategic commitments, including a $3 billion missile‑production buildout and the planned Missile Solutions IPO that the company has delayed until at least mid‑2027 with a $1 billion DoD investment preserved.
- Shares fell roughly 3–4% after the announcement and some media outlets, citing people briefed on the probe, report the investigation found an inappropriate relationship with an employee though the company has not publicly confirmed that detail; the episode also recalls Kubasik’s 2012 ethics exit from Lockheed Martin and raises investor and governance scrutiny.