L3Harris replaces CEO after conduct probe

On Aug. 17, 2026, L3Harris Technologies (LHX) announced that Christopher Kubasik stepped down as chairman, chief executive officer and a member of the board. The move followed a board-directed investigation, supported by independent counsel, into conduct the board determined was inconsistent with the company’s Code of Conduct.

The board specified that the conduct leading to Kubasik’s departure was not related to L3Harris’ (LHX) financial reporting, internal controls, customer relationships or operational performance. The company characterized the matter as a governance issue rather than an operational or financial one.

L3Harris and Kubasik entered into a separation agreement in connection with his departure. Under the agreement, Kubasik will not receive severance payments, severance benefits or accelerated vesting of unvested equity awards.

The company stated that Kubasik may retain and exercise certain previously vested stock options. Details beyond these key economic terms were not disclosed in the summarized materials.

Effective immediately with the announcement, L3Harris appointed Sam Mehta as president and chief executive officer and added him to the company’s board. Mehta’s elevation places an internal executive with extensive operating responsibilities at the top of the organization.

Before his promotion, Mehta led the Space & Mission Systems and Communications & Spectrum Dominance segments. Together, these two businesses account for approximately 80% of L3Harris’ revenue, giving Mehta direct oversight experience across most of the company’s operations.

As part of the transition, the board named Lewis Hay III, previously the lead independent director, as independent chairman of the board. This separated the roles of chairman and chief executive officer between Hay and Mehta.

Following Mehta’s move into the CEO position, L3Harris filled his former operating roles by promoting internal leaders to run its largest segments. The company framed these appointments as a continuation of its existing leadership bench.

Alongside the leadership announcement, L3Harris reaffirmed its full-year 2026 guidance for consolidated revenue, organic growth, segment operating margin, GAAP earnings per share and free cash flow. The company indicated that its expectations for financial performance remain unchanged.

By confirming its prior outlook, L3Harris sought to underscore that the board’s actions were not driven by concerns over operational or financial results. The company signaled continuity in strategy and performance despite the abrupt change at the top.