8-KLeadership ChangesOther EventsExhibits & Filings

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (May 24, 2007)

Filed May 24, 2007For Securities:LHX

Summary

This 8-K filing from Harris Corporation (now L3Harris Technologies, Inc.) announces a significant organizational change and an upcoming adjustment to its segment reporting structure. Robert K. Henry has been appointed to the newly created role of Executive Vice President and Chief Operating Officer, effective immediately. This move positions a seasoned executive to oversee operations more broadly. Additionally, the company plans to revise its segment reporting starting in fiscal year 2008, consolidating its business into four key areas: Government Communications Systems, Defense Communications and Electronics, Broadcast Communications, and Harris Stratex Networks, Inc. These changes suggest a strategic focus on operational efficiency and clearer business unit delineation for investors.

Key Highlights

  • 1Robert K. Henry appointed to the new position of Executive Vice President and Chief Operating Officer, effective May 21, 2007.
  • 2Mr. Henry's appointment was not accompanied by a salary increase or new equity awards; his compensation details are referenced from a prior filing.
  • 3Harris Corporation will implement adjusted segment reporting for fiscal year 2008, beginning June 30, 2007.
  • 4The revised segment reporting will encompass four divisions: Government Communications Systems, Defense Communications and Electronics, Broadcast Communications, and Harris Stratex Networks, Inc.
  • 5Mr. Henry is covered by a change in control severance agreement providing benefits upon termination without cause or for good reason within two years of a change of control.
  • 6No new transactions requiring disclosure under Item 404(a) of Regulation S-K were reported for Mr. Henry's appointment.
  • 7The filing includes a press release dated May 21, 2007, as Exhibit 99.1.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce two key events: the appointment of Robert K. Henry to the newly created position of Executive Vice President and Chief Operating Officer, and Harris Corporation's planned adjustment to its segment reporting structure effective fiscal year 2008.

The company will reorganize its segment reporting into four key areas: Government Communications Systems, Defense Communications and Electronics, Broadcast Communications, and Harris Stratex Networks, Inc.

No, the filing explicitly states that Mr. Henry did not receive a salary increase or additional equity awards in connection with his appointment as Executive Vice President and Chief Operating Officer. His current salary and bonus information are referenced from a previous filing, and he is eligible for standard company benefit and incentive plans.

The adjustment in segment reporting suggests a strategic move by Harris Corporation to provide investors with a clearer and potentially more focused view of its business operations across distinct strategic areas. This could improve transparency and facilitate more accurate analysis of the performance of each segment.