L3Harris Technologies’ board of directors has promoted Sam Mehta to chief executive from his former role as president of space and mission systems in an abrupt leadership change announced Monday.
Chris Kubasik, L3Harris’ CEO since June 2021, stepped down from that position and his other roles as chairman and member of the board of directors effective immediately.
L3Harris said the board determined to enter into a separation agreement with Kubasik after an investigation found conduct by him that was “not consistent with the values of the company as outlined in its code of conduct.” The company added the alleged conduct was not related to its financial reporting, controls, customer relationships or operational performance.
Mehta joined L3Harris in 2023 as president of the communications segment, then added the additional title of president of the space and mission systems segment at the start of this year.
This transition at the very top of L3Harris is taking place in a year where the company announced its intentions to take the missile solutions segment public following a $1 billion investment from the Defense Department.
L3Harris originally eyed the second half of this year for the initial public offering, but Kubasik told investors in July that the IPO is being delayed until at least mid-2027 because of market conditions the company sees as not reflecting the value of Mission Solutions.
Kubasik’s tenure as CEO started with the completion of the integration of L3 Technologies and Harris Corp. following their merger in 2019, and includes the $4.7 billion acquisition of Aerojet Rocketdyne in 2023.
The pending Missile Solutions IPO is not the only move L3Harris has undertaken with respect to its space business. L3Harris closed the sale of a 60% stake in the space propulsion and power systems business this month to AE Industrial Partners, while retaining a 40% stake.
In addition to Mehta’s promotion, Lauren Barnes has moved up to be president of the space and mission systems segment from her prior role as president of spectrum superiority. Christopher Aebli, formerly president of mission critical communications, was elevated to president of the communications and spectrum dominance.
Lewis Hay III, a member of the L3Harris and a predecessor board since 2002, was elected chairman after previously holding the title of lead independent director.
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