L3Harris CEO resigns after internal conduct investigation
L3Harris Technologies announced that Chairman and CEO Christopher Kubasik will leave the company after an internal investigation found his conduct inconsistent with the firm’s code of conduct. Fortune reported that Kubasik will forfeit $45 million in unvested equity awards while retaining about $80 million in stock holdings.
Fox Business said Sam Mehta will succeed Kubasik as chief executive. Semafor added that the board dismissed Kubasik following an external probe that uncovered an improper relationship with a subordinate, which caused the company’s shares to fall.