01—Abstract
Summary
Summary of the 8-K filed January 4, 2024. Cited figures are marked; the original filing is the authoritative source.
RTX Corporation filed this Form 8-K to disclose an executive leadership change at Raytheon, one of its three business units.
Wesley D. Kremer stepped down as president of Raytheon effective January 7, 2024, and will retire at the end of the first quarter of 2024. Phil Jasper, previously president of Mission Systems at Collins Aerospace, succeeded him in the role on the same effective date.
Jasper, 55, reports to President and Chief Operating Officer Christopher T. Calio and joins the RTX senior leadership team. The filing does not include financial results, guidance, or changes to segment reporting.
It describes a planned succession, which management characterized as aligned with the company's succession plan. The company also cited Kremer's role in structuring the Raytheon business in 2023 and Jasper's leadership of the connected battlespace integration effort, which management described as a critical customer priority and growth driver.
Several related appointments took effect the same day: Troy Brunk was named president of Collins Aerospace's Mission Systems unit, Heather Robertson was named its chief operating officer, and Nathan Boelkins was named president of Collins Aerospace's Avionics unit. For investors, the 8-K signals continuity in leadership and a defined transition timeline rather than a change in strategy or financial outlook.
02—Key points
Key Highlights
- Wesley D. Kremer steps down as president of Raytheon effective January 7, 2024, and retires at the end of Q1 2024.
- Phil Jasper, 55 and a 31-year aerospace and defense veteran, becomes president of Raytheon effective January 7, 2024, reporting to COO Christopher T. Calio.
- Raytheon's franchises under Jasper include missile defense, air-to-air missiles, fire control radars, and electro-optical/infrared systems.
- Jasper led the integration of RTX's connected battlespace solutions, which management identified as a critical customer priority and growth driver.
- Troy Brunk named president of Collins Aerospace's Mission Systems unit; Heather Robertson named its chief operating officer.
- Nathan Boelkins named president of Collins Aerospace's Avionics unit, effective the same day.
- The filing contains no financial results, guidance, or strategy changes; it is a planned leadership succession.
03—Questions
Frequently Asked Questions
Why is Wesley Kremer leaving Raytheon?
The filing states that Kremer is stepping down as Raytheon president and retiring from RTX at the end of Q1 2024. No other reason is given. The company thanked him for his contributions to missile defense and his role in structuring the Raytheon business in 2023.
Who is Phil Jasper and what is his background?
Jasper is a 31-year aerospace and defense veteran who has served as president of Collins Aerospace's Mission Systems unit since 2018. He previously led the transition of commercial aerospace technologies into defense, including battlefield communications and networking, and developed mission-specific capabilities for military aircraft such as airdrop, refueling, and intercept systems.
Does this leadership change affect RTX's financial outlook?
The 8-K does not provide financial results, guidance, or any indication of changes to RTX's financial outlook or segment reporting. It describes a planned succession and the related appointments, so any financial impact is not disclosed in this filing.
What other leadership changes were announced?
Troy Brunk was named president of Collins Aerospace's Mission Systems unit, Heather Robertson was named chief operating officer of Mission Systems, and Nathan Boelkins was named president of Collins Aerospace's Avionics unit. All of these changes were effective January 4, 2024, and were described as aligned with the company's succession plan.
Who does the new Raytheon president report to?
Phil Jasper reports to President and Chief Operating Officer Christopher T. Calio. As president of Raytheon, Jasper is also a member of RTX's senior leadership team.
04—Continue