L3Harris Continues Board Refreshment And Provides Update On Shareholder Value Creation Activities; Kirk Hachigian And Bill Swanson Appointed To Board Of Directors; Board Forms Business Review Committee With William Brown As Special Advisor
Portfolio Pulse from Benzinga Newsdesk
L3Harris Technologies (NYSE:LHX) has appointed Kirk Hachigian and Bill Swanson to its Board of Directors and plans to add another independent director in 2024. A Business Review Committee is being formed to evaluate the company's operational performance and value creation levers, with results expected in 2024. L3Harris has also entered into a cooperation agreement with D. E. Shaw group, a major investor, regarding the appointment of the additional director and other governance matters. The company is adjusting its long-term incentive plan to focus more on shareholder return and will discuss its strategy and value creation initiatives at its Investor Day on Dec. 12, 2023.
December 11, 2023 | 2:55 pm
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L3Harris Technologies appoints new board members and forms a committee to review company performance and value creation, with a cooperation agreement with D. E. Shaw group. The company is also revising its incentive plan and will present its strategy at the upcoming Investor Day.
The appointment of experienced directors and the formation of a Business Review Committee signal a proactive approach to governance and performance optimization, which is likely to be viewed positively by investors. The cooperation with D. E. Shaw group suggests alignment with shareholder interests, potentially leading to positive market sentiment. The focus on shareholder return in the incentive plan and the anticipation of the Investor Day presentation may also contribute to a positive short-term impact on LHX's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100