L3Harris Technologies has ousted its CEO Chris Kubasik following a board investigation into a violation of the company's code of conduct. While the specifics of the violation were not disclosed, it did not involve financial reporting or customer relations. Kubasik will forfeit $45 million in equity awards but will retain stock and options valued at approximately $80 million. Sam Mehta has been appointed as the new CEO, and the company reaffirmed its financial guidance despite a slight stock dip following the announcement. AI
RANK_REASON CEO ouster and replacement at a large defense contractor.
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