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Posted 29 June, 2021

L3HARRIS TECHNOLOGIES, INC. /DE/ appointed Mr. Kubasik as new CEO

NYSE:LHX appointed new Chief Executive Officer Mr. Kubasik in a 8-K filed on 29 June, 2021.


  Consistent with the Merger Agreement and Mr. Brown's and Mr. Kubasik's respective employment arrangements, on June 29, 2021, (a) Mr. Brown ceased being Chief Executive Officer of L3Harris, but remained Executive Chair of L3Harris; (b) and Mr. Kubasik, age 60, succeeded him as Chief Executive Officer of L3Harris, becoming Vice Chair, President and Chief Executive Officer of L3Harris, and ceased being Chief Operating Officer of L3Harris.  

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Overview of L3HARRIS TECHNOLOGIES, INC. /DE/
Technology • Networking
L3Harris Technologies, Inc. engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Space and Airborne Systems, Integrated Mission Systems, Communication Systems, and Aerojet Rocketdyne. The Space and Airborne Systems segment provides full mission solutions as a prime and subsystem integrator in the space, airborne and cyber domains. The Integrated Mission Systems segment focuses on the differentiated mission capabilities and prime systems integration for the air, land and sea domains. The Communication Systems segment enables warfighters across all domains with solutions critical to mission success even in the most contested environments. The Aerojet Rocketdyne segment includes propulsion, power and armament products and systems to U.S. government, including the DoD, National Aeronautics and Space Administration (“NASA”) and major aerospace and defense prime contractors. The company was founded in 1890 and is headquartered in Melbourne, FL.
Market Cap
$39.6B
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L3HARRIS TECHNOLOGIES, INC. /DE/ by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


Introductory Note 


As previously disclosed, pursuant to the Agreement and Plan of Merger (as amended, the "Merger Agreement"), dated as of October 12, 2018, by and among Harris Corporation, a Delaware corporation ("Harris"), L3 Technologies, Inc., a Delaware corporation ("L3"), and Leopard Merger Sub Inc., a Delaware corporation and a direct wholly-owned subsidiary of Harris ("Merger Sub"), the parties completed the business combination transaction provided for in the Merger Agreement on June 29, 2019 (the "Closing Date"), with Merger Sub merging with and into L3 (the "Merger") and L3 continuing as the surviving corporation and a direct wholly-owned subsidiary of Harris, which was renamed "L3Harris Technologies, Inc." ("L3Harris").


As also previously disclosed, in accordance with the governance-related terms in the Merger Agreement and L3Harris' employment arrangement with each of William M. Brown and Christopher E. Kubasik addressing his respective employment following completion of the Merger, Mr. Brown began serving as Chair and Chief Executive Officer of L3Harris and Mr. Kubasik began serving as Vice Chair, President and Chief Operating Officer of L3Harris, in each case on the Closing Date, with the governance-related terms in the Merger Agreement and Mr. Brown's and Mr. Kubasik's respective employment arrangements providing for a transition from Mr. Brown to Mr. Kubasik of the Chief Executive Officer role on the second anniversary of the Closing Date (June 29, 2021), followed by a transition of the Chair role by the third anniversary of the Closing Date (June 29, 2022).


Completion of Chief Executive Officer Transition 


Consistent with the Merger Agreement and Mr. Brown's and Mr. Kubasik's respective employment arrangements, on June 29, 2021, (a) Mr. Brown ceased being Chief Executive Officer of L3Harris, but remained Executive Chair of L3Harris; (b) and Mr. Kubasik, age 60, succeeded him as Chief Executive Officer of L3Harris, becoming Vice Chair, President and Chief Executive Officer of L3Harris, and ceased being Chief Operating Officer of L3Harris.


The other identification and business experience information with respect to Mr. Kubasik under the caption "Information About our Executive Officers" on page 28 of L3Harris' Annual Report on Form 10-K for the fiscal year ended January 1, 2021, filed with the U.S. Securities and Exchange Commission ("SEC") on March 1, 2021, is incorporated by reference into this Item 5.02. 


In connection with Mr. Kubasik's appointment as Vice Chair, President and Chief Operating Officer of L3Harris on June 29, 2019, L3Harris assumed from L3 the employment arrangement with Mr. Kubasik addressing his employment following completion of the Merger (a letter agreement originally entered into on October 12, 2018 in connection with the Merger Agreement and formalized by a subsequent letter agreement dated November 5, 2018; together, the "Kubasik Letter Agreement"). The description of the Kubasik Letter Agreement under the caption "Agreement With Mr. Kubasik" on pages 53-54 of L3Harris' definitive proxy statement for its 2021 Annual Meeting of Shareholders held on April 23, 2021, filed with the SEC on March 11, 2021, is incorporated by reference into this Item 5.02; however, that description is not complete and is qualified in its entirety by, and should be read in conjunction with, the complete text of the Kubasik Letter Agreement, which was filed as Exhibit 10.4 to L3Harris' Current Report on Form 8-K filed with the SEC on July 1, 2019 and is incorporated by reference into this Item 5.02.


Other than as may be disclosed above in this Item 5.02, there (x) is no arrangement or understanding between Mr. Kubasik and any other person pursuant to which he was selected as Chief Executive Officer of L3Harris, (y) is no family relationship between Mr. Kubasik and any other director or executive officer of L3Harris, and (z) are no related persons transactions between L3Harris and Mr. Kubasik reportable under Item 404(a) of Regulation S-K.