L3Harris CEO succession: Sam Mehta replaces Christopher Kubasik

L3Harris Technologies (NYSE: LHX ) stock traded lower on Monday morning following an executive leadership overhaul. The defense contractor appointed Sam Mehta as president and CEO and a member of the board, effective immediately. Mehta succeeds Christopher Kubasik, who stepped down as chairman, CEO and board member. • L3Harris Technologies shares are sliding.

Why are LHX shares down? Leadership Overhaul Executed In tandem with the executive shift, Lead Independent Director Lewis Hay III assumed the role of Independent Chairman. Additional leadership appointments include Lauren Barnes as president of Space & Mission Systems and Christopher Aebli as president of Communications and Spectrum Dominance. The board and Kubasik agreed to implement the succession plan after the company learned of conduct by Kubasik that violated its Code of Conduct.

Independent counsel assisted in the investigation. The company noted the conduct was unrelated to financial reporting, controls, customer relationships or operational performance. Read Also: David Tepper Cuts Micron Stake, Exits SanDisk as Appaloosa Goes Big on These Magnificent 7 Stocks in Q2 Full-Year Outlook Reaffirmed L3Harris reaffirmed its full-year 2026 financial guidance. 579 billion, according to Pro.

92), which keeps rallies in "prove it" mode. The 20-day SMA is below the 50-day SMA, and the 50-day SMA is below the 200-day SMA (a Death Cross that formed in June), reinforcing that the longer-term bias is still bearish. 50 — Nearby ceiling that lines up with a prior pivot zone and sits close to the 100-day EMA area where rebounds can stall. 68).

62 at the time of publication on Monday, according to Pro data. Read Also: 'Big Short' Investor Steve Eisman Says AI Has an 'Achilles' Heel' — But It's Too Early to Short the Boom Photo by Piotr Swat via Shutterstock