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UTC CEO Cheneverty Abruptly Retires, CFO Hayes Takes Over

UTC CEO Cheneverty Abruptly Retires, CFO Hayes Takes Over
UTC Chairman and CEO Gregory Hayes. Photo: UTC

United Technologies [UTX] on Monday announced the retirement of Chairman and CEO Louis Chenevert, effectively immediately, and said that Gregory Hayes, the company’s chief financial officer, has been elected as its president and CEO. UTC made no mention of why Chenevert, 57, retired after 22 years with the company. He became president of UTC and a board member in 2006 and succeeded George David as CEO in 2008. Chenevert succeeded David as chairman in 2010. Joseph Nadol, J.P. Morgan’s aerospace…

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