L3Harris Technologies has removed Chairman and CEO Christopher Kubasik following a board investigation that found his conduct was inconsistent with the defense contractor’s code of conduct. The company announced the leadership change on August 17, with Sam Mehta appointed as chief executive effective immediately.
L3Harris shares fell 2.5% in early trading following the announcement.
Board Investigation Leads to Leadership Change
The Melbourne, Florida-based defense contractor said Kubasik’s departure was unrelated to its financial reporting, internal controls, customer relationships or operational performance. The company attributed the decision to conduct that did not align with its stated values and code of conduct.
L3Harris did not provide further details about the investigation. Kubasik also did not immediately respond to a request for comment.
The company said Kubasik and L3Harris had reached a mutual separation agreement. Under the agreement, he will not receive severance payments, benefits or equity incentive awards. However, he will be permitted to retain and exercise certain stock options that had already vested under the company’s equity incentive plans.
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Mehta Takes Charge as New CEO
Sam Mehta, who joined L3Harris in 2023, has been appointed CEO with immediate effect. Before taking over the top position, Mehta led the company’s Space & Mission Systems and Communications & Spectrum Dominance segments.
Together, those two businesses account for about 80% of L3Harris’ total revenue, giving Mehta significant experience across major parts of the company’s operations.
Before joining L3Harris, Mehta spent four years as president of advanced structures at Collins Aerospace, a division of RTX.
The company also appointed Lewis Hay III as independent chairman of its board. The move separates the roles of chief executive and board chairman following Kubasik’s departure.
Kubasik’s Role in L3Harris Expansion
Kubasik played a key role in the formation of L3Harris through the 2019 merger of L3 Technologies and Harris Corporation. He initially served as president and chief operating officer before becoming CEO in 2021. He took over as board chairman the following year.
During his leadership, L3Harris expanded its position in the defense sector and reshaped its portfolio. One of the company’s major moves was the $4.7 billion acquisition of Aerojet Rocketdyne in 2023.
The company has also been pursuing changes to its missile-related business. In January, L3Harris announced plans to spin off its missile solutions unit, with the Pentagon saying it would take a $1 billion stake in the new company. The planned transaction was later postponed until at least mid-2027.
Previous Leadership Controversy
Kubasik’s departure also comes against the backdrop of a previous leadership controversy during his career. More than a decade ago, he was removed as chief operating officer of Lockheed Martin after acknowledging an improper relationship with a subordinate. He had been expected to become the company’s CEO at the time.
His latest departure from L3Harris, however, was specifically linked by the company to the findings of its internal board investigation into conduct inconsistent with its code of conduct.
L3Harris Moves Forward With New Leadership
With Mehta taking over as CEO and Hay becoming independent board chairman, L3Harris is moving ahead with a new leadership structure at a significant point in its business transformation.
The company has emphasized that Kubasik’s departure was not connected to financial reporting, internal controls, customer relationships or operational performance. The leadership transition instead follows the board’s findings regarding conduct and compliance with company standards.
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