L3Harris Ousts CEO Kubasik Over 'Conduct,' Stock -4%
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- L3Harris ousted CEO Chris Kubasik over unspecified "conduct" following an internal investigation, sending the defense contractor's stock down 4%, per CNBC and qz.com
- Kubasik forfeits $45 million as part of his exit but still walks away with roughly $80 million in previously granted stock and options, per Fortune
Why it matters: Kubasik walks away with $80M in equity despite forfeiting $45M, showing how previously vested stock cushions executives from the full financial consequences of dismissal. The 4% stock drop shows investors read the unspecified conduct as material, even as L3Harris declines to define it publicly.
Ask SkimNews
