WSJ: Women Raised Concerns About L3Harris CEO Years Before Ouster
LHX is trading near its 52-week low of $262.68 (5.5% above the low).
Summary
The WSJ reports that multiple women at L3Harris had raised concerns about CEO Christopher Kubasik's behavior years before his ouster this week, including a formal HR complaint around 2023 alleging sexual harassment. The board's recent investigation was triggered by another accusation, and not all directors were briefed on the earlier complaint. Kubasik forfeited $58 million in unvested stock and $9 million in severance, while retaining $28 million in vested options and $59 million in L3 stock. This is the second time he has been removed from a senior executive role over conduct with an employee, following his 2012 exit from Lockheed Martin. The revelations deepen governance concerns and raise questions about board oversight, adding uncertainty to leadership succession at a company where 75% of revenue comes from U.S. government contracts.
At the time of this announcement, LHX was trading at $277.06 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $51.6B. The 52-week trading range was $262.68 to $379.23. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.