L3Harris Ousts CEO Kubasik After Conduct Investigation, Names Sam Mehta as Replacement

L3Harris Technologies replaced Chairman and Chief Executive Officer Christopher Kubasik on Monday after a board investigation concluded that he had engaged in conduct inconsistent with the defense contractor’s values and Code of Conduct. Sam Mehta was appointed president and CEO effective immediately, while lead independent director Lewis Hay III became independent chairman.

The company did not disclose the nature of Kubasik’s conduct. It did, however, draw a firm boundary around the investigation, saying the matter was unrelated to financial reporting, internal controls, customer relationships or operational performance. L3Harris also reaffirmed its 2026 financial outlook, separating the leadership change from any newly disclosed deterioration in the business.

In its leadership announcement, L3Harris said the board and Kubasik agreed that implementing the company’s succession plan immediately was the appropriate course. Reuters reported that L3Harris shares fell 2.5% in early morning trading after the announcement, showing an immediate investor response even though the company did not change its financial expectations.

The investigation ended with an immediate separation and no severance

The company’s Form 8-K provides more detail on how Kubasik left. L3Harris said the independent members of the board conducted the investigation with assistance from independent counsel and determined that Kubasik had engaged in conduct that was not consistent with company values as outlined in the Code of Conduct.

The filing says L3Harris and Kubasik mutually agreed to end his employment effective immediately. He also resigned from the company’s board and from the boards of L3Harris subsidiaries and affiliates. The separation agreement was dated August 16, one day before the company publicly announced the leadership change.

Kubasik will not receive severance payments or benefits and will not receive accelerated vesting of unvested equity awards. He can retain and exercise certain stock options that had already vested. The agreement also includes mutual releases and customary restrictions covering confidentiality, non-disparagement, non-solicitation, customer non-interference and competition for specified periods.

L3Harris also said Kubasik’s resignation from the board was not the result of a disagreement about the company’s operations, policies or practices. That distinction matters because the filing identifies the conduct investigation, rather than a strategic dispute or financial reporting issue, as the reason for the separation.

The company has not said when it first became aware of the conduct or provided details about what happened. Reuters reported that Kubasik did not immediately respond to a request for comment. Without further disclosure, investors have no basis to infer that the conduct involved any particular type of personal or professional behavior beyond what L3Harris has stated.

Sam Mehta takes over after running businesses that generate most of L3Harris revenue

Mehta, 53, is an internal successor with direct responsibility for much of the company he is now leading. He joined L3Harris in January 2023 and most recently served as president of Space & Mission Systems and Communications & Spectrum Dominance. L3Harris says those two segments account for more than 80% of total revenue.

That gives the board a way to change the top leadership without handing the company to an executive unfamiliar with its largest operating businesses. In those roles, Mehta was responsible for strategy, financial performance and execution across programs spanning space, air, land, sea and cyber markets. L3Harris says he led nearly 34,000 employees across the two segments.

Before joining L3Harris, Mehta was president of Advanced Structures at Collins Aerospace, part of RTX, where he led a multibillion-dollar operation with about 15,000 employees. He previously spent more than 17 years at Sikorsky Aircraft and at one point led a $4 billion military products and services business.

The transition also changes the board structure. Kubasik had held both the chairman and CEO titles, while those jobs are now split between Mehta and Hay. Hay has served on the L3Harris board or a predecessor board since 2002 and had been lead independent director. The separation of the roles gives an independent director responsibility for chairing the board during the leadership transition.

Two executives were promoted to fill the operating positions Mehta leaves behind. Lauren Barnes, previously president of Spectrum Superiority, became president of Space & Mission Systems. Christopher Aebli, previously president of Mission Critical Communications, became president of Communications & Spectrum Dominance. Both appointments were effective immediately.

The 8-K also sets out Mehta’s new compensation. His annual base salary is $1.25 million, with a target annual cash bonus equal to 200% of base salary. His long-term incentive target is $13.25 million, with the 2026 amounts prorated for the portion of the year he serves as CEO.

L3Harris keeps its 2026 outlook intact despite the governance shock

The leadership change lands less than three weeks after L3Harris reported a strong second quarter and raised parts of its annual guidance. Second-quarter revenue was $5.881 billion, up 8% from a year earlier, while orders totaled $7.3 billion and backlog reached a record $42 billion. Diluted earnings per share rose 28% to $3.13.

At the end of July, L3Harris raised its 2026 revenue forecast to $23.2 billion to $23.7 billion from a previous range of $23 billion to $23.5 billion. It also increased its GAAP diluted earnings-per-share outlook to $11.80 to $12.00 from $11.40 to $11.60. The company continued to forecast about $3 billion of free cash flow and a segment operating margin in the low-16% range.

Monday’s announcement reaffirmed consolidated revenue, organic growth, segment operating margin, GAAP earnings per share and free cash flow. L3Harris also reiterated its commitment to a previously announced $3 billion capital buildout intended to expand solid rocket motor production and strengthen the supply chain.

The unchanged guidance does not remove the governance questions created by an abrupt CEO departure. Kubasik had been a central figure in L3Harris since the 2019 combination of L3 Technologies and Harris Corporation, first serving as president and chief operating officer of the combined company before becoming CEO in 2021 and chairman in 2022. During his tenure, L3Harris completed the $4.7 billion acquisition of Aerojet Rocketdyne and reshaped its defense portfolio.

For shareholders, the immediate issue is therefore continuity rather than a disclosed financial restatement or operating disruption. Mehta inherits a company with record backlog and recently raised guidance, but he also takes over after a board investigation removed the executive most closely associated with L3Harris’ post-merger strategy. The board has responded by installing an internal operator over the business and an independent chairman over the board, while keeping the company’s financial targets unchanged.