L3Harris Technologies CEO Christopher Kubasik left the company after his conduct was found inconsistent with the defence contractor's code of conduct in a board investigation, according to a Reuters report.
Executive Sam Mehta was named the replacement chief executive for the Florida-based defence contractor, effective immediately. L3Harris also named Lewis Hay III as independent chairman of its board.
Kubasik's exit sent shares of L3Harris Technologies down 2.5% in early Monday morning trading. The company also reaffirmed its 2026 financial forecast.
Incoming CEO Sam Mehta, 53, joined L3Harris in 2023. He had led L3Harris's Space & Mission Systems and Communications & Spectrum Dominance segments, which together account for about 80% of total revenue.
Before that, he served for four years as president of advanced structures at Collins Aerospace, a unit of RTX.
Mehta brings more than 25 years of experience in the aerospace and defence sector to his new role as CEO.
His career prior to L3Harris includes several high-profile leadership positions:
Christopher Kubasik, 65, joined what was then L3 Technologies in 2015. He helped steer the 2019 merger of L3 and Harris Corp, serving as president and chief operating officer before becoming CEO in 2021 and board chairman a year later.
During his tenure, L3Harris acquired Aerojet Rocketdyne for $4.7 billion in 2023 and made other portfolio changes as it expanded its presence in the defence industry.
L3Harris announced the spin-off of its missile solutions unit in January, as the Pentagon said it would take a $1 billion stake in the new company. Last month, the spin-off was postponed until at least mid-2027.
More than a decade ago, Kubasik was fired as chief operating officer of Lockheed Martin after acknowledging an improper relationship with a subordinate, months before he was due to become CEO.
L3Harris said Kubasik's exit was unrelated to its financial reporting, internal controls, customer relationships or operational performance, and stemmed from conduct inconsistent with the company's values, as outlined in its code of conduct.
Under a separation agreement mutually agreed with the company, Kubasik will not receive severance payments, benefits or equity incentive awards. He will be allowed to retain and exercise certain previously vested stock options granted under L3Harris' equity incentive plans.
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