L3Harris Technologies appointed Sam Mehta as chief executive officer and president after ousting Chris Kubasik on Sunday over conduct the board said was inconsistent with the company's values. The company said the matter, investigated with the assistance of independent counsel, was unrelated to financial reporting, controls, customer relationships or operations. Kubasik, 65, had served as CEO since 2021 and also held the chairman role; Lewis Hay II, formerly the lead independent director, was named independent chairman. Shares fell more than 4% on Monday. A separation agreement filed by L3Harris shows the board chose to negotiate Kubasik's departure rather than terminate him for cause. Kubasik did not admit to violating the code of conduct, forfeited his 2026 bonus, was not eligible for $9.3 million in severance or separation payments, and gave up unvested stock awards and options worth at least $45 million, a figure that could have reached $62 million if performance targets had been met. He will retain options that could net him stock worth about $23 million and more than 200,000 L3Harris shares valued at nearly $57 million. The board also preserved clawback rights over some retained options if serious misconduct is later established by a court ruling. The departure echoes Kubasik's 2012 exit from Lockheed Martin, where an ethics investigation confirmed a close personal relationship with a subordinate employee shortly before he was due to become CEO. During his time at L3Harris, the company struck a $1 billion government investment deal in April for the missile-propulsion business it plans to take public and delivered a modified Boeing 747 to the White House in June for use as an interim Air Force One. L3Harris reaffirmed its full-year 2026 guidance across revenue, growth and operating margin.