Canadian Manufacturing

United Technologies CEO announces surprise retirement

The Hartford, Conn., conglomerate announced the change of leadership November 24 when it promoted CFO Greg Hayes to the top job



HARTFORD, Conn.—Louis Chenevert, the chief executive officer of aerospace and building systems giant United Technologies Corp., is retiring abruptly after six years and will be succeeded by the company’s chief financial officer.

The Hartford, Conn., conglomerate announced the change of leadership November 24 when it promoted CFO Greg Hayes to the top job.

The 54-year-old Hayes has been with United Technologies for 25 years and has been chief financial officer for the past six years.

Chenevert steered United Technologies’ $18.4-billion purchase of aerospace parts maker Goodrich Corp. in 2012. It was the industry’s largest deal and gave the company a stronger presence in the aerospace industry.

Chenevert informed the board of directors of his retirement as chairman and CEO effective immediately.

Edward A. Kangas, lead independent director, has been elected non-executive chairman of the board.

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