L3Harris (LHX) Stock Falls 3% After CEO Removed Following Conduct Review

TLDR

• L3Harris CEO Christopher Kubasik stepped down immediately after a conduct review found behavior inconsistent with the company’s Code of Conduct.
• Insider Sam Mehta has been appointed as the new president and CEO, effective immediately.
• LHX stock fell around 3% on the news, trading at $282.54.
• The conduct issue was unrelated to financials, controls, customer relationships, or operational performance.
• L3Harris reaffirmed its 2026 revenue, margin, EPS, and free cash flow guidance.

L3Harris Technologies (LHX) stock dropped roughly 3% on Monday after the defense contractor announced CEO Christopher Kubasik had stepped down, effective immediately, following an internal conduct review.

The stock was trading at $282.54, down 3.2%, while the S&P 500 was off just 0.1%.

L3Harris Technologies, Inc., LHX

The company said it “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 was clear that the conduct had nothing to do with financial reporting, internal controls, customer relationships, or operational performance.

… Continue reading the full article at the original source below.