8-KLeadership ChangesExhibits & Filings

RTX Corp 8-K Report, Executive Changes (Jun 9, 2016)

Filed June 9, 2016For Securities:RTX

Summary

This 8-K filing from RTX Corp (formerly United Technologies Corporation) announces a key change to its Board of Directors. Effective September 1, 2016, retired U.S. Army General Lloyd J. Austin III has been elected as a new director. This appointment will increase the size of the Board from 13 to 14 members, with General Austin filling the newly created vacancy. The Board has affirmed General Austin's independence according to NYSE and company guidelines. General Austin's addition is significant as he brings a wealth of experience, indicated by his appointment to both the Finance Committee and the Committee on Governance and Public Policy. His compensation will align with the existing program for non-employee directors, as detailed in the company's 2016 Proxy Statement. Investors should note this strategic addition to the board's oversight and expertise.

Key Highlights

  • 1RTX Corp (United Technologies Corporation) elected retired U.S. Army General Lloyd J. Austin III as a new director.
  • 2General Austin's appointment is effective September 1, 2016.
  • 3The Board of Directors' size will increase from 13 to 14 members.
  • 4The Board has determined General Austin meets independence standards (NYSE and company guidelines).
  • 5General Austin has been appointed to the Finance Committee.
  • 6General Austin has also been appointed to the Committee on Governance and Public Policy.
  • 7His compensation will follow the established program for non-employee directors.

Frequently Asked Questions

Lloyd J. Austin III is a retired U.S. Army General. His appointment to the Board of Directors is significant as it brings new leadership and expertise, particularly with his appointments to critical committees like Finance and Governance and Public Policy.

Yes, his appointment will increase the size of the Board of Directors from 13 to 14 members.

Yes, the Board has determined that General Austin is an independent director under both the New York Stock Exchange listing standards and the Company's own independence guidelines.

General Austin will participate in the compensation program established for the company's non-employee directors, as outlined in the 2016 Proxy Statement.