Defense contractor L3Harris ousts CEO Chris Kubasik over unspecified 'conduct,' stock drops 4%

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  "signal_type": "news",
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  "detected_at": "2026-08-17T20:32:15+00:00",
  "company": {
    "name": "L3Harris",
    "domain": "l3harris.com"
  },
  "data": {
    "url": "https://www.cnbc.com/2026/08/17/l3harris-ceo-chris-kubasik-lhx-defense-mehta.html",
    "title": "Defense contractor L3Harris ousts CEO Chris Kubasik over unspecified 'conduct,' stock drops 4%",
    "contact": "Lewis Hay III",
    "excerpt": "In this article Defense contracting giant L3Harris Technologies ousted CEO Chris Kubasik on Sunday after learning he engaged in \"certain conduct ... that was not consistent with the values of the Company,\" the company said in a statement on Monday. L3Harris's board appointed Sam Mehta as chief executive officer and president, the company said. Mehta most recently was the company's president of the Space & Mission Systems and Communications & Spectrum Dominance segments. Shares of L3Harris fell by more than 4% on the heels of the news of Kubasik's ouster, which \"was unrelated to the Company's financial reporting, controls, customer relationships or operational performance,\" the company's statement said. \"Following its investigation of these matters with the assistance of independent counsel, the Board determined that it would be in the best interests of the Company to enter into a separation agreement with Kubasik,\" the statement said. Kubasik's ouster comes seven months after the Defense Department committed to a $1 billion convertible preferred equity investment in L3Harris' missile solutions business, which will become a separate company as part of the deal. An initial public offering for the missile business has been postponed from the latter half of 2026 until mid-2027. Kubasik, 65, in addition to being CEO, had been L3Harris' chairman of the board. He had been CEO since...",
    "summary": "L3Harris Technologies named its lead independent director, Lewis Hay III, as independent chairman of the board.",
    "planning": false,
    "image_url": "https://image.cnbcfm.com/api/v1/image/108350546-1786991276796-108350546-1786991140878-gettyimages-2284899479-ALLEN__CO_2026.jpg?v=1786991290&w=1920&h=1080",
    "job_title": "independent chairman of the board",
    "confidence": 1,
    "published_at": "2026-08-17T20:32:15Z",
    "effective_date": "2026-08-17",
    "job_title_tags": [
      "directors"
    ],
    "article_sentence": "L3Harris on Monday said that Lewis Hay III, the company's lead Independent director, was named independent chairman of the board."
  }
}

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