L3Harris replaces CEO following investigation; Xylem announces $1.46B acquisition

L3Harris Technologies has announced an immediate leadership change following the resignation of Chairman and CEO Christopher Kubasik. The company stated that an investigation revealed conduct by Kubasik that was “not consistent with the values of the company,” though the company clarified the behavior was unrelated to financial reporting, customer relationships, or operational performance.

Sam Mehta, who joined L3Harris in 2023 and previously led the Space & Mission Systems and Communications & Spectrum Dominance segments, has been appointed as the new President and CEO. Lewis Hay III, the company’s Lead Independent Director, has been named Independent Chairman of the Board.

In separate business news, Xylem Inc. has agreed to acquire the Cornell Pump and Roper Pump businesses from Indicor for $1.46 billion. The deal is intended to expand Xylem’s industrial pumping portfolio, specifically targeting high-growth sectors such as mining, agriculture, and municipal infrastructure. The transaction is expected to close in the fourth quarter of 2026, pending regulatory approval.