L3Harris Ousts CEO Kubasik, Names Mehta as Successor; Shares Fall Over 4%
L3Harris Technologies dismissed chief executive Chris Kubasik on Sunday, citing conduct inconsistent with company values, and appointed Sam Mehta as chief executive and president. Shares fell more than 4% on the news. The board, assisted by independent counsel, reached a separation agreement with Kubasik, who will forgo his 2026 incentive bonus but retains about 384,000 stock options. Separately, the US Defense Department committed US$1 billion to L3Harris's missile solutions business, whose initial public offering was pushed back from the second half of 2026 to mid-2027.
L3Harris Technologies removed chief executive Chris Kubasik on Sunday. In a announcement on Monday, the company said his conduct was inconsistent with its values and unrelated to financial reporting, , internal controls, customer relationships or operational performance. After an investigation assisted by independent counsel, the board reached a separation agreement with Kubasik. n Shares in L3Harris fell more than 4% after the the announcement. Earlier in 2026 2026, the US Department of Defense committed US$1 billion to L3Harris's missile solutions business, which is to be spun off as a standalone company; the related initial public offering has been postponed from the second half of 2026 to mid-2027.
The board appointed Sam Mehta as chief executive and president. Mehta previously served as president of the company's space and mission systems and communications and spectrum advantage divisions. Kubasik, 65, had served as chief executive since 2021 and also chaired the board; independent director Lewis Hay III has taken over as independent chairman.
He will not receive a bonus under the 2026 incentive plan but retains about 384,000 stock options.
In 2012, Kubasik was president and chief operating officer of Lockheed Martin when, weeks before he was due to become chief executive, he was asked to resign after an ethics investigation confirmed a close personal relationship with a subordinate employee.
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