Harris, L3 All-Stock Merger Completed to Form L3Harris Technologies; Christopher Kubasik, William Brown Quoted

The all-stock merger between L3 Technologies and the Harris Corporation has been completed to form L3Harris Technologies (LHX), the new company announced on Monday. L3Harris is officially the sixth largest defense company in the United States worth approximately $17 billion in revenue with over 50,000 employees. The company also announced the details regarding its own leadership, the board of directors and organizational structure. 

“Our seasoned segment leaders and mission-focused operating structure will enable us to leverage our broad range of capabilities and complementary technologies to deliver advanced solutions and capture opportunities across multiple domains,” said Christopher Kubasik, L3Harris’ president and chief operating officer and 2019 Wash100 Award recipient. 

L3Harris’ new board of directors consists of 12 members with a deep understanding of L3 and Harris’ businesses, a diverse mix of experience and background. The board members are: 

• William M. Brown – Chairman and CEO of L3Harris

• Christopher Kubasik – Vice Chairman, President and COO of L3Harris

• Sallie Bailey – former EVP and CFO of Louisiana-Pacific

• Peter Chiarelli – General, U.S. Army (Retired)

• Thomas Corcoran – former President and CEO of Allegheny Teledyne

• Thomas Dattilo – former Chairman, President and CEO of Cooper Tire & Rubber

• Roger Fradin – former Vice Chairman of Honeywell 

• Lewis Hay III – former Chairman and CEO of NextEra Energy

• Lewis Kramer – Partner, Ernst & Young (Retired) 

• Rita Lane – former Vice President of Operations, Apple

• Robert Millard – Chairman of the MIT Corporation 

• Lloyd Newton – General, U.S. Air Force (Retired) 

L3Harris has organized its operating businesses into four segments to best meet customers’ mission requirements and leverage the combined company’s broad technical capabilities:

• Integrated Mission Systems — led by Sean Stackley, headquartered in Palm Bay, Florida, with approximately $4.9 billion in revenue. Includes intelligence, surveillance and reconnaissance; advanced electro optical and infrared solutions; and maritime power and navigation

• Space and Airborne Systems — led by Ed Zoiss, headquartered in Palm Bay, Florida, with approximately $4 billion in revenue. Includes space payloads, sensors and full-mission solutions; classified intelligence and cyber defense; avionics; and electronic warfare

• Communication Systems — led by Dana Mehnert, headquartered in Rochester, New York, with approximately $3.8 billion in revenue. Includes tactical communications; broadband communications; night vision; and public safety

• Aviation Systems — led by Todd Gautier, headquartered in Arlington, Texas, with approximately $3.8 billion in revenue. Includes defense aviation products; security, detection and other commercial aviation products; air traffic management and commercial and military pilot training

“We’ve created an agile technology provider with the scale, resources and capabilities to provide affordable, innovative and rapidly fielded solutions to address our customers’ critical mission needs,” said Brown, chairman and CEO of L3Harris. 

“Each member of our Board and leadership team brings decades of experience, and I look forward to working with them to capture the targeted synergies and create significant value for our shareholders,” Brown added.

About L3Harris Technologies

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $17 billion in annual revenue and 50,000 employees, with customers in 130 countries.