United Technologies CEO Adds Role of Chairman
15 September 2016 - 8:30AM
Dow Jones News
United Technologies Corp. said Chief Executive Gregory Hayes is
adding the role of chairman, succeeding Edward A. Kangas, who
returns to the role of independent lead director on the 14-member
board.
Mr. Hayes took the helm of the industrial conglomerate nearly
two years ago following the retirement of former chairman and CEO
Louis Chenevert in November 2014. At the time, Mr. Kangas, who had
been United Technologies' lead independent director since April of
the previous year, was named to the post of nonexecutive
chairman.
Mr. Hayes, 55 years old, is a 27-year veteran of the company,
which makes everything from Pratt & Whitney jet engines to Otis
elevators to Carrier air- conditioning systems.
United Technologies in July posted higher quarterly sales as the
company made progress in righting its struggling elevator unit and
ramping jet-engine production to historically high levels. Mr.
Hayes also warded off a $90 billion takeover bid from rival
Honeywell International Inc. earlier in the year.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
September 14, 2016 18:15 ET (22:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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