L3Harris ousts CEO Kubasik over conduct breach, names Sam Mehta as replacement

Aug 17 (Reuters) - L3Harris ‌Technologies said on ​Monday ​that CEO Christopher Kubasik had left the company after a board investigation found he ‌had engaged in conduct inconsistent with the company's ⁠code of conduct, sending its shares down 3% in premarket trading.

The ‌company named insider Sam ‌Mehta as his replacement, effective immediately.

The Melbourne, Florida-based defense contractor said its board determined that Kubasik's conduct was ​inconsistent with L3Harris' values as outlined in its code of conduct.

The company said Kubasik's exit was ⁠unrelated to its financial reporting, internal controls, customer relationships or operational performance, and ​stemmed from conduct that was inconsistent with L3Harris' values and code of conduct.

Under a separation ​agreement mutually agreed with the ‌company, Kubasik will not receive severance payments, benefits or equity incentive awards. He is ⁠entitled to retain and exercise certain previously vested stock options granted under L3Harris' equity incentive plans.

Kubasik had served as L3Harris' ⁠CEO since 2021. Before the 2019 merger with Harris Corporation, ​he was CEO of L3 Technologies from early 2018 to mid-2019.

Incoming CEO Mehta had led the company's Space & Mission Systems and ‌Communications & Spectrum Dominance segments, which together account for about 80% of total revenue.

He joined ‌L3Harris in 2023. Before that, he served for four ⁠years as president of ‌advanced structures at Collins ​Aerospace, a unit of.

(Reporting by Shivansh Tiwary and Aatreyee Dasgupta in Bengaluru; Editing by Tasim ‌Zahid)

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