L3Harris appoints new CFO as firm prepares to spin off missile business
Former Peraton CFO Kenneth Sharp will become the L3Harris's top finance executive later this month.
Former Peraton CFO Kenneth Sharp will become the L3Harris's top finance executive later this month.
L3Harris announced plans to conduct an initial public offering of its Missile Solutions business in the second half of 2026.
The six largest US defense firms all reported quarterly results this week, and the potential impact of tariffs was front and center.
Chris Kubasik’s Jan. 15 letter to DOGE heads Elon Musk and Vivek Ramaswamy is the first foray by an executive at a legacy defense prime into the emerging discourse on how the incoming administration can revitalize the American defense industrial base
“To the extent we can get a good price for what we've identified as non-core [businesses], we'll do it. But too many of the offers are coming in low and people think we're desperate to sell, and I can assure you we're not,” said L3Harris CEO Chris Kubasik.
The sale could help L3Harris pay down debt and focus as a defense supplier.
Government can’t stop to update systems, so modernization has to happen without interruptions.
The new partnership aims to stand up a “multi-user rocket motor facility” in Australia that can meet needs for munitions and space launch.
After failed bid to buy Aerojet Rocketdyne, Lockheed is “endeavoring... to create another supplier,” CEO Jim Taiclet told lawmakers.
"We were advised today that the FTC will not block our acquisition of Aerojet Rocketdyne; therefore, we are moving forward to close the transaction on or about July 28," wrote L3Harris CEO Chris Kubasik in a note to investors.
Eyeing risks of losses, L3Harris' Chris Kubasik said, "I think the industry as a whole is going to continue to no-bid these contracts until [DoD uses] the right vehicles.”
The deal, which is subject to approval by the Federal Trade Commission, is expected to close in 2023.
"This will easily be Buy American Act [compliant]. It's not even going to be close," L3Harris CEO Chris Kubasik said of the effort with Brazil's Embraer.
Marillyn A. Hewson named as #Lockheed Martin CEO effective January after board ousts Chris Kubasik. Bob Stevens, current CEO, will remain on board ColinClarkAOL
Chris Kubasik, anointed incoming CEO for #Lockheed Martin, forced to resign after “lengthy and close personal relationship with a subordinate.” ColinClarkAOL