L3Harris fires CEO over conduct; Mehta to lead the defense contractor
L3Harris Technologies ousted CEO Chris Kubasik after an independent probe found conduct not aligned with the company’s values and appointed Sam Mehta as President and CEO; shares fell more than 4%. The company said the departure was not tied to financials or operations, and Kubasik will forgo a 2026 bonus but keep about 384,000 stock options under a separation agreement. Semafor reported the investigation cited an inappropriate relationship with an employee. The move comes as a DoD investment in L3Harris’s missile business progresses and the related IPO is delayed; Kubasik previously faced ethics scrutiny at Lockheed Martin in 2012. Independent director Lewis Hay III was named independent chairman.