x

Posted 24 January, 2023

RAYTHEON TECHNOLOGIES CORP appointed Mr. Calio as new CEO

NYSE:RTX appointed new Chief Executive Officer Mr. Calio in a 8-K filed on 24 January, 2023.


  Mr. Calio will succeed Gregory J. Hayes as President, who will continue to serve as the Company's Chairman and Chief Executive Officer and to whom Mr. Calio will continue to report.  

Don't how to trade CEO change? Read Reasons for CEO Turnover and Effect on Stock Performance.
Overview of RAYTHEON TECHNOLOGIES CORP
Industrial Goods • Aerospace Products/Parts
RTX Corp. is an aerospace and defense company, which engages in the provision of aerospace and defense systems and services for commercial, military, and government customers. It operates through the following segments: Collins Aerospace Systems (Collins), Pratt and Whitney, Raytheon Intelligence and Space (RIS), and Raytheon Missiles and Defense (RMD). The Collins segment manufactures and sells aero structures, avionics, interiors, mechanical systems, mission systems, and power controls. The Pratt and Whitney segment includes the design and manufacture of aircraft engines and auxiliary power systems for commercial, military, and business aircraft. The RIS segment is involved in the development of sensors, training, and cyber and software solutions. The RMD segment offers end-to-end solutions to detect, track, and engage threats. The company was founded in 1922 and is headquartered in Arlington, VA.
Market Cap
$120B
View Company Details
RAYTHEON TECHNOLOGIES CORP by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 23, 2023, the Board of Directors of Raytheon Technologies Corporation (the "Company") appointed Christopher T. Calio as the President of the Company, effective March 1, 2023, in addition to continuing as the Company's Chief Operating Officer. Mr. Calio will succeed Gregory J. Hayes as President, who will continue to serve as the Company's Chairman and Chief Executive Officer and to whom Mr. Calio will continue to report.

Prior to his appointment as the Company's Chief Operating Officer, which was effective March 1, 2022, Mr. Calio, 49, served as President, Pratt & Whitney beginning January 2020. From February 2017 to December 2019, he served as President, Commercial Engines, Pratt & Whitney, and as Chief of Staff to the Chairman & CEO from February 2015 to January 2017. Mr. Calio joined the Company in 2005 as an Assistant Counsel and served in positions of increasing responsibility across the Company, including as Vice President & General Counsel of UTC Aerospace Systems and Vice President & Counsel, Commercial Engines, Pratt & Whitney. Mr. Calio received his B.A. in Political Science from Trinity College, as well as a J.D. and an MBA from the University of Connecticut.

On January 23, 2023, the Board of Directors of the Company approved the following compensation actions for Mr. Calio in connection with his appointment as President: (i) annual base salary increase from $900,000 to $1,000,000, effective March 1, 2023 and (ii) the grant of a 2023 long-term incentive ("LTI") award with an estimated value on the grant date of $10,000,000, comprised of 60% performance share units and 40% stock appreciation rights, to be made on the same day as the Company's annual executive LTI awards to other Company officers.