8-KLeadership ChangesExhibits & Filings

RTX Corp 8-K Report, Executive Changes (Nov 24, 2014)

Filed November 24, 2014For Securities:RTX

Summary

This 8-K filing from RTX Corp (formerly United Technologies Corporation) on November 24, 2014, announces significant leadership changes at the highest executive level. Louis Chênevert has retired from his roles as Chief Executive Officer, Chairman, and Board member, although he will remain with the company in an employee capacity until early January 2015. This transition marks the end of an era for the company under his leadership and sets the stage for new strategic direction. The most critical development is the immediate appointment of Gregory J. Hayes, previously the Chief Financial Officer, as the new President and Chief Executive Officer, as well as a new Board member. Hayes, a seasoned executive with deep financial and operational experience within the company, is poised to lead RTX through its next phase. To fill the CFO vacancy, Edward A. Kangas has been appointed non-executive Chairman of the Board, and Peter F. Longo, with extensive financial leadership experience within UTC, has been named Acting Chief Financial Officer. These appointments signal a focus on continuity and leveraging internal talent during this leadership transition.

Key Highlights

  • 1Louis Chênevert retired as CEO, Chairman, and Board member, effective November 23, 2014.
  • 2Gregory J. Hayes appointed as the new President and CEO and joined the Board of Directors.
  • 3Hayes, formerly CFO, has a strong background in finance and extensive experience within RTX.
  • 4Edward A. Kangas, Lead Director, appointed as non-executive Chairman of the Board.
  • 5Peter F. Longo appointed as Acting Chief Financial Officer.
  • 6Longo has a long tenure with RTX and significant financial leadership experience within various divisions.
  • 7A press release dated November 24, 2014, detailing these changes is attached as an exhibit.

Frequently Asked Questions

This 8-K filing is primarily to announce significant leadership changes within RTX Corp, including the retirement of the CEO and Chairman and the appointment of new individuals to these key roles, as well as the Acting CFO.

Gregory J. Hayes has been appointed the new President and Chief Executive Officer. He was previously the Chief Financial Officer and has a long history with the company, holding various senior financial and leadership positions since joining through a merger in 1999. He is also a Certified Public Accountant.

Yes, Louis Chênevert has agreed to continue as an employee of the Company until January 3, 2015, following his retirement from his executive and board positions.

Peter F. Longo has been appointed as the Acting Chief Financial Officer. He has extensive experience within RTX, having served in various financial leadership roles since 1988.