L3Harris' CEO Departure Harkens Back to Lockheed Ouster in 2012

Dow Jones
08/17

1127 ET - Chris Kubasik is out as CEO of L3Harris Technologies, a departure that likely has investors thinking back to his ouster from defense rival Lockheed Martin in 2012, Vertical Research Partners analysts Robert Stallard and Karl Oehlschlaeger say in a research note. L3Harris says Kubasik, also its chairman, was found to have violated the defense contractor's code of conduct. Kubasik was set to take the CEO role at Lockheed in 2012 before he was ousted for a "lengthy, close personal relationship" with a subordinate. Whatever drove this more recent departure, investors will likely conclude that the management change won't impact the underlying business, the analysts say.

 

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