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L3Harris removes CEO amid conduct allegations, shares fall 4%
The personnel change follows a prior reported ouster of CEO Chris Kubasik in 2012 from Lockheed Martin’s incoming CEO role.
CNBC Markets reports that L3Harris has ousted CEO Chris Kubasik over unspecified conduct, prompting a sharp market reaction.
The outlet said L3Harris tied the decision to Kubasik’s alleged conduct, without providing additional details in the available summary.
CNBC Markets also noted that Kubasik was ousted in 2012 as Lockheed Martin’s incoming CEO after the company described a close personal relationship with a subordinate employee.
Following the announcement, L3Harris shares fell about 4%.
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