There have been many interesting changes at the newly formed L3Harris Technologies, and now a new appointment of a Senior Vice President and Chief Financial Officer.
L3Harris Technologies (NYSE:LHX) has named Jesus “Jay” Malave, Jr. Senior Vice President and Chief Financial Officer, reporting to L3Harris Chairman and Chief Executive Officer William M. Brown, effective June 29, 2019. Malave was elected CFO of the new L3Harris following the close of the merger between L3 and Harris, and succeeds former L3 and Harris CFOs, Ralph D’Ambrosio and Rahul Ghai, who have decided for personal reasons to pursue new opportunities. Both D’Ambrosio and Ghai will actively support a transition period. As CFO, Malave will oversee L3Harris’ accounting, financial planning and analysis (FP&A), investor relations, internal audit, tax and treasury functions.
Malave is a seasoned CFO with an extensive background in financial planning and analysis, corporate finance, post-merger integration and investor relations, and has a deep knowledge of the aerospace and defense industry. He joins L3Harris from United Technologies Corporation, where he spent more than 20 years in roles of increasing responsibility, including VP and CFO of the $15 billion UTC Aerospace Systems business; VP, Financial Planning and Treasury at Hamilton Sundstrand, with responsibility for planning the integration of Goodrich Corporation; four years as VP, Investor Relations; and most recently as VP and CFO of the $19 billion Carrier business segment.
Chairman and Chief Executive Officer William M. Brown said that he is delighted to welcome Jay to L3Harris, and is confident that his broad financial expertise, post-merger integration experience, industry knowledge and passion for talent development will serve then well as they build the new L3Harris. He would also like to thank Rahul and Ralph for their many contributions, including establishing the foundation of L3Harris, and he wishes them well in their next endeavors. They’re excited to hit the ground running on day one and with Jay at the finance helm, they are confident they are well positioned to create long-term value for their shareholders.
Jesus “Jay” Malave, Jr. Senior Vice President and Chief Financial Officer, said that he is honored to join the L3Harris team at this exciting time and look forward to building on the significant progress that has already been made and contributing to the integration. He believes L3Harris has a talented management team and is thrilled to have the opportunity to leverage his background and skills to help the company continue to deliver strong results for all of their stakeholders.