[SatNews] A decision to retire in mid-2012 has initiated a new command search...

Harris Corporation (NYSE: HRS) is implementing a CEO succession plan after Howard L. Lance, its chairman, president and CEO, advised the Board of Directors that he would like to retire at the end of the next fiscal year in June 2012, or such time as a suitable successor can be identified. The Board has engaged an executive search firm to assist in the process of contacting and evaluating external and internal candidates. Lance, 55, will remain in his present positions pending the appointment of his successor as chief executive officer, and will continue as chairman should the Board request that he stay for an additional period in order to facilitate the transition. Lance joined Harris in January 2003 as president and chief executive officer and was appointed chairman of the board in June 2003.