L3Harris Technologies announced the immediate departure of Chairman and CEO Christopher Kubasik and the appointment of Sam Mehta as the new President and CEO. Kubasik's departure follows a board investigation that found his conduct was inconsistent with the company's Code of Conduct. The company stated the matter has no impact on its financial reporting or operational performance and reaffirmed its full-year 2026 guidance.
Key Details
- New CEO: Sam Mehta, formerly President of the Space & Mission Systems and Communications & Spectrum Dominance segments (representing ~80% of revenue), has been appointed President, CEO, and a board member, effective immediately.
- New CEO Compensation: Mr. Mehta's compensation includes a $1.25M base salary, a target annual bonus of 200% of salary, and a long-term incentive target of $13.25M.
- CEO Departure: Christopher Kubasik's separation was a mutual agreement effective August 17, 2026. Per the separation agreement, he will not receive severance payments or accelerated vesting of unvested equity awards.
- Other Leadership Changes: Lewis Hay III was appointed Independent Chairman of the Board. Lauren Barnes and Christopher Aebli were appointed to lead the Space & Mission Systems and Communications & Spectrum Dominance segments, respectively.
- Financial Outlook: The company reaffirmed its 2026 financial guidance for consolidated revenue, organic growth, segment operating margin, GAAP EPS, and free cash flow.