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L3Harris ousts CEO Chris Kubasik over conduct, stock drops
CNBC • • business
Key Points:
- L3Harris Technologies ousted CEO Chris Kubasik due to conduct inconsistent with company values, appointing Sam Mehta as the new CEO and president.
- Kubasik's departure followed an independent investigation, reportedly related to an inappropriate relationship with an employee, though the company has not confirmed this detail.
- The board emphasized that Kubasik's ouster was unrelated to financial reporting, controls, customer relationships, or operational performance.
- Kubasik will not receive a 2026 incentive bonus but retains nearly 384,000 stock options; he denies any policy violations or cause for termination.
- Sam Mehta, previously president of key business segments, was praised by the board for his deep knowledge and readiness to lead L3Harris during a critical period.
