Chris Kubasik, CEO of L3Harris, at the Allen & Company Media & Technology Conference on Friday, July 10, 2026 in Sun Valley, Idaho, USA.
David Paul Morris | Bloomberg | Getty Images
major defense contractor L3 Harris Technologies The company said in a statement Monday that it fired CEO Chris Kubasik on Sunday after learning that he had engaged in “certain conduct that was inconsistent with the company’s values.”
L3Harris’ Board of Directors has appointed Sam Mehta as Chief Executive Officer and President, the company announced. Mr. Mehta most recently served as president of the company’s Space and Mission Systems Division and Communications, Spectrum and Dominance Division.
L3Harris’ stock price fell more than 4% on news of Kubasik’s firing, which was “unrelated to the company’s financial reporting, management, customer relations, or results of operations,” the company said in a statement.
“After reviewing these matters with the assistance of independent counsel, the board of directors determined that it is in the best interest of the company to enter into a separation agreement with Mr. Kubasik,” it said in a statement.
Kubasik’s firing comes seven months after the Pentagon committed to making a $1 billion convertible preferred stock investment in L3Harris’ missile solutions business, which will become a separate company as part of the deal. The missile business’s initial public offering (IPO) has been postponed from late 2026 to mid-2027.
In addition to being CEO, Kubasik, 65, also served as chairman of L3Harris’ board of directors. He had served as CEO since 2021. L3Harris announced on Monday that Louis Hay III, the company’s lead independent director, has been appointed independent chairman of the board.
CNBC has reached out to Kubasik for comment.
News outlet Semaphore reported that Kubasik was fired “after an independent investigation found that he had engaged in an inappropriate relationship with an employee,” citing two people briefed on the investigation.
CNBC asked L3Harris if that report was accurate.
In 2012, the board of directors of a major defense contractor lockheed martin Lockheed said in a statement at the time that weeks before Kubasik was scheduled to become CEO, the company requested and accepted Kubasik’s resignation as president and chief operating officer after “an ethics investigation confirmed that he had a close personal relationship with a subordinate employee.”
In a filing with the Securities and Exchange Commission detailing Kubasyk’s separation agreement, L3Harris said Kubasyk “does not acknowledge and expressly disclaims any violation of company policy or any basis for termination for ’cause,’ but is determined to resolve all matters relating to the executive’s separation on the terms set forth in this agreement.”
Under the separation agreement, Mr. Kubasik will not receive a bonus under the company’s 2026 incentive plan, but will have stock options for approximately 384,000 shares.
Kubasik and his wife, Jane Kubasik, are longtime supporters of the athletics program at their alma mater, the University of Maryland. The Kubasic First Impact Program helps select Maryland student-athletes prepare for life outside of sports each year.
“Sam is a proven executive who brings deep knowledge of our business, priorities and culture, making him the ideal person to assume the role of president and CEO of L3Harris at this important time in our company’s and our nation’s history,” Hay said in a statement regarding Mehta’s promotion to CEO.
“Sam’s readiness to lead L3Harris reflects the board’s strong succession planning and our focus on talent development,” Hay said.
“I am honored to have the opportunity to serve as our president and CEO,” Mehta said in a statement.
L3 Harris. I look forward to working even more closely with senior leaders and talented colleagues across the company to support the needs of our nation and allies. ”
“L3Harris now has a portfolio built for future wars and is well-positioned to continue executing our focused growth strategy as a trusted disruptor,” he said.
