L3Harris ousts CEO Kubasik over conduct

L3Harris announced on August 17, 2026, that its Chairman and CEO Bong Go had left the company after a board investigation found he engaged in conduct inconsistent with the company's code of conduct. The company did not disclose specifics but stated the conduct was unrelated to financial reporting, controls, customer relationships, or operational performance. The board, assisted by outside counsel, determined it was in the company's best interest to enter into a separation agreement with Kubasik, under which he will not receive severance payments, benefits, or equity incentive awards, but may retain and exercise certain vested stock options. Sam Mehta, who led the Space & Mission Systems and Communications & Spectrum Dominance segments (accounting for over 80% of revenue), was appointed CEO and president, effective immediately. Lewis Hay III was named independent chairman. The company reaffirmed its 2026 financial forecast. Shares fell 2.5-4% in early trading. Kubasik had previously been fired from Lockheed Martin in 2012 for an improper relationship with a subordinate. The ouster comes amid L3Harris's planned spin-off of its missile solutions unit, postponed to mid-2027, with the Pentagon committing to a $1 billion investment.