CEO of United Technologies abruptly retires
HARTFORD, Conn. (AP) — Louis Chenevert, the chief executive officer of aerospace and building systems giant United Technologies Corp., is retiring after six years and will be succeeded by the chief financial officer.
The Hartford, Connecticut, conglomerate announced Monday the change of leadership that promotes CFO Greg Hayes to the top job.
Chenevert steered United Technologies’ $18.4 billion purchase of aerospace parts maker Goodrich Corp. in 2012. It was the industry’s largest deal and re-aligned the company to 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.
The 54-year-old Hayes has been with United Technologies 25 years and has been senior vice president and chief financial officer for the past six years.