In a swift move, L3Harris Technologies has ousted its CEO Christopher Kubasik following an investigation that found he violated the company's code of conduct. The investigation did not uncover any impact on financial reporting, controls, customer relationships, or operational performance.

The board, with independent counsel, determined that removing Kubasik was in the best interest of the company. While he may keep some vested stock options, he will not receive severance, benefits, or accelerated stock awards.

L3Harris, known for overhauling a Qatari jet now used as Air Force One, continues its operations from Melbourne, Fla. The decision underscores the company's commitment to ethical standards and governance.

The company has not disclosed when the potential violation was reported. This action signals a strict stance on conduct and accountability within the defense contracting sector.