L3Harris CEO Chris Kubasik removed after independent probe finds inappropriate relationship
L3Harris said its board dismissed CEO Chris Kubasik following an external investigation that concluded he had an improper relationship with a subordinate, causing the company's shares to drop.
L3Harris announced that its board has terminated chief executive Chris Kubasik after an independent investigation determined he engaged in an inappropriate relationship with an employee. The probe, carried out by an outside law firm, concluded in recent days, according to two sources familiar with the matter.
Kubasik, who rose to lead the $54 billion defense contractor, had previously been dismissed from a potential CEO role at Lockheed Martin in 2012 over a similar personal relationship with a subordinate. He joined L3 Corporation in 2015, helped orchestrate its merger with Harris Corporation, and became CEO of the merged entity, L3Harris, in 2021.
"The company became aware of certain conduct by Kubasik that was not consistent with the values of the company as outlined in its code of conduct," L3Harris said in a press release.
The company did not provide further details about the conduct, and spokespeople declined to comment. Kubasik also did not respond to requests for comment. Following the announcement, L3Harris shares fell about 3 percent.