RTX, one of the world’s largest aerospace and defense manufacturers that includes subsidiaries Collins Aerospace, Pratt & Whitney and Raytheon, announced its president and COO, Chris Calio, will succeed Greg Hayes as CEO effective May 2024.
The announcement comes after a lengthy succession planning process. “Today’s announcement reflects the board’s deliberate, disciplined succession planning process,” said Mr. Hayes. “Chris has a deep understanding of the industry, our customers’ needs and our operations. I have every confidence in his ability to lead RTX and drive the company’s long-term success.”
Mr. Hayes will continue to serve as executive chairman of RTX. Effective yesterday, Dec. 14, Mr. Calio was appointed to the company’s board of directors.
“I deeply value the board’s confidence in me and am grateful for the opportunity to lead the RTX team forward,” said Mr. Calio. “I am honored to succeed Greg, who has built the best positioned portfolio in aerospace and defense. As a leadership team, we are focused on driving operational excellence and accelerating technological innovation as we deliver on the record backlog of customer demand and meet shareowner expectations.”
In 2023, Mr. Calio oversaw the realignment of RTX from four to three business segments, and oversees its functions for technology, engineering, enterprise services, digital, operations, quality, supply chain and environmental, health and safety. Prior to his current role, Calio was president of Pratt & Whitney.
Mr. Hayes has enjoyed an almost 21-year career with the company and is responsible for leading 180,000 employees and $67 billion in annual sales. During his tenure with United Technologies Corporation, he held several senior leadership roles across finance, corporate strategy and business development before being named its CEO in 2014.
Mr. Hayes reshaped UTC into a focused aerospace company, beginning with the divestiture of Sikorsky Aircraft in 2015 and the acquisition of Rockwell Collins in 2018. In addition, he continued to focus the business with the subsidiaries of Otis Elevator Company and Carrier Corporation in 2020, finally merging UTC’s remaining aerospace businesses, Pratt & Whitney and Collins Aerospace Systems, with Raytheon Company, to form RTX in April 2020.
“Greg has had a remarkable career leading RTX, his vision to transform from a conglomerate to a top global aerospace and defense company has created tremendous value for shareowners, employees and our nation,” said Fredric G. Reynolds, board lead director. “The board looks forward to Greg’s continued influence and leadership as executive chairman.”
“Chris has been disciplined in leading the company’s operations and strategic growth strategy, added Mr. Reynolds. “We look forward to working with and supporting Chris as he leads RTX to continued growth and success.”
