L3Harris Ousts CEO Kubasik Over Conduct Violation, Names Space Chief Mehta to Lead

L3Harris removed Chris Kubasik as chairman and chief executive on August 17 after a company investigation found he had violated its code of conduct. Sam Mehta, who leads the company's space business, becomes CEO effective immediately, while lead independent director Lewis Hay takes over as chairman. The abrupt change unsettled some investors, with L3Harris shares falling a modest 3 percent on Monday morning.

L3Harris did not detail what led to Kubasik's departure, saying only that the company became aware of conduct that was not consistent with its code of conduct. The company said this conduct was unrelated to its financial reporting, controls, customer relationships or operational performance. Following an investigation conducted with the assistance of independent counsel, the board determined it would be in the best interests of the company to enter into a separation agreement with Kubasik. Kubasik does not appear to have addressed the move publicly and could not immediately be reached for comment.

Kubasik joined L3 Technologies as chief operating officer in 2015 after resigning from Lockheed Martin in 2012, when he was found to have had an improper relationship with a subordinate as CEO-elect. He became L3's CEO in 2018, aiming to transform the company from a merchant supplier into a "sixth prime" dealing directly with the Pentagon. When L3 merged with Harris Corporation in 2019 to form L3Harris, Kubasik became chief operating officer before taking the CEO job in 2021. Under his leadership, L3Harris acquired solid rocket motor manufacturer Aerojet Rocketdyne in 2023.

The change comes weeks after the company reported second quarter earnings, in which executives announced plans to postpone the spin off of its missile solutions business from 2026 to 2027, citing market conditions. In its statement, L3Harris reaffirmed its 2026 financial projections and said it remains committed to a previously announced $3 billion capital buildout to increase solid rocket motor production and strengthen its supply chain. Mehta has a long career among top defense primes, including as president of advanced structures for RTX's Collins Aerospace and president of defense systems for Lockheed's Sikorsky unit. He joined L3Harris in 2023 as president of its communications unit and was elevated this year to lead its space and mission systems and communications and spectrum dominance business units.

"I am honored by the opportunity to serve as President and CEO of L3Harris," Mehta said. "Today, L3Harris has a portfolio purpose built for the future of warfare, and we are well positioned to continue executing our focused growth strategy as The Trusted Disruptor." Lauren Barnes, currently president of the company's spectrum superiority division, was appointed president of space and mission systems. Christopher Aebli, currently president of mission critical communications, was named president of communications and spectrum dominance.

Analyst Robert Stallard of Vertical Research Partners wrote that investors will likely conclude the underlying business is not impacted by the management change. He noted, however, that L3Harris has underperformed its U.S. defense peers under Kubasik's leadership. "We have high regard for Sam Mehta, who in our experience has been an effective manager and a good communicator," Stallard wrote. "He may be a catalyst for closing LHX's performance gap."

Investors will watch how the leadership transition affects the company's reaffirmed 2026 projections and its $3 billion solid rocket motor buildout, as well as the timing of the missile solutions spin off now planned for 2027.