L3Harris Technologies has removed chairman and chief executive Christopher Kubasik after a board investigation found conduct inconsistent with the company’s code of conduct, naming Sam Mehta as president and chief executive with immediate effect. Lewis Hay III has become independent chairman at the Melbourne, Florida-based defence contractor, which supplies major aerospace and defence programmes. Kubasik also stepped down from the board and will not receive severance, benefits or equity awards under his separation agreement.
The board acted after an investigation led with independent counsel and concluded the matter was unrelated to financial reporting, internal controls, customer relationships or operating performance. Mehta, previously an executive at the group, takes over at a sensitive moment for a company whose work spans defence electronics, space and aviation-related systems. Reuters reported that L3Harris shares fell after the change at the top. Kubasik had led the company since the merger of L3 and Harris, while Hay now assumes oversight as independent chairman.